#ETH/USDT 1DAY UPDATE BY CRYPTOSANDERS
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CHART ANALYSIS:-ethereum (ETH) also stumbled lower on Saturday, with prices nearing a breakout of the $1,200 level.
Following a high of $1,222.20 on Friday, the world’s second-largest cryptocurrency dropped to a low of $1,200.48 earlier today.
The move came as ETH/USD fell below a recent ceiling of resistance at $1,220, with bulls now fighting to reject any further declines.
As of writing, ETH is trading at $1,209.44, as traders have so far rejected a drop below $1,200.
This is due to two things, first the 10-day (red) moving average has begun to trend upwards, which has brought back a level of bullish sentiment to the token.
In addition to this, the 14-day relative strength index (RSI) continues to track above a key floor of 37.75, which appears to be a major reason why we haven’t seen any further significant sell-offs.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
I have tried to bring the best possible outcome to this chart.
Show some support, hit the like button, and follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis.
CHART ANALYSIS:-ethereum (ETH) also stumbled lower on Saturday, with prices nearing a breakout of the $1,200 level.
Following a high of $1,222.20 on Friday, the world’s second-largest cryptocurrency dropped to a low of $1,200.48 earlier today.
The move came as ETH/USD fell below a recent ceiling of resistance at $1,220, with bulls now fighting to reject any further declines.
As of writing, ETH is trading at $1,209.44, as traders have so far rejected a drop below $1,200.
This is due to two things, first the 10-day (red) moving average has begun to trend upwards, which has brought back a level of bullish sentiment to the token.
In addition to this, the 14-day relative strength index (RSI) continues to track above a key floor of 37.75, which appears to be a major reason why we haven’t seen any further significant sell-offs.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
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