Hello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Ethereum (ETH) continued to trade above $1,200 on Wednesday, with bulls pushing prices closer to a key resistance level.
ETH/USD hit a peak of $1,224.09 earlier in today’s session, which comes less than 24 hours after hitting a bottom of $1,206.44.
Despite prices nearing a ceiling at the $1,230 mark earlier in the day, bearish sentiment has increased at this level, leading to previous bulls retreating.
As of writing, the world’s second-largest cryptocurrency is trading at $1,214.44, which comes following a recent crossover of moving averages.
Looking at the chart, a downward cross between the 10-day (red) and 25-day (blue) moving averages has occurred, which typically is a sign of pending declines.
Should this momentum intensify in the coming days, ETH could likely move back toward a floor of $1,160.
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.
CHART ANALYSIS:-Ethereum (ETH) continued to trade above $1,200 on Wednesday, with bulls pushing prices closer to a key resistance level.
ETH/USD hit a peak of $1,224.09 earlier in today’s session, which comes less than 24 hours after hitting a bottom of $1,206.44.
Despite prices nearing a ceiling at the $1,230 mark earlier in the day, bearish sentiment has increased at this level, leading to previous bulls retreating.
As of writing, the world’s second-largest cryptocurrency is trading at $1,214.44, which comes following a recent crossover of moving averages.
Looking at the chart, a downward cross between the 10-day (red) and 25-day (blue) moving averages has occurred, which typically is a sign of pending declines.
Should this momentum intensify in the coming days, ETH could likely move back toward a floor of $1,160.
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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