RLinda ! ETHUSD-> LimitBase 1280 What to expect from the price?

21 окт. 2022 г.

ETHUSDT. According to data provided by Santiment, the number of daily active addresses has fallen to its lowest level since June, indicating a decrease in unique addresses interacting with the network. This fact has raised fears of more Ethereum declines in the medium term

The decline in DAA came after Ethereum corrected 81.89% from its November 2021 high of $4868.
Based on this, the following conclusion can be drawn:
-suspended their interaction with the network until positive times
-Ithereum users are leaving the market

Ethereum is forming a limit zone above the $1279 level. The price could start a steady rise if there is a clear move above the $1,300 resistance zone.

• Ethereum owns strong support formed by limit orders in the $1280 zone
  
• The price is now trading in the risk zone between the 1300-1280 price
  
• Price is trading below 50-MA and 200-MA on 1H, 4H, 1D charts. The reaction is weakening with each new test
  
• A new connecting bearish trend line is forming on the hourly chart of ETH/USD with resistance around $1,295 (filed via Kraken).
  
• The pair could start a decent upside move if momentum forms, breaking up through the 1300, 1320, 1350 zones
  

If Etherium fails to move above the $1,300 resistance, it could continue to move down.

• The key zone for the fall remains 1280, if it breaks through which a strong momentum will form.
  
• Initial support on this side is approaching the 1200 level, which will be the primary target.
  
• The next major support is approaching the $1,080 level.
  
• Any further losses could lead to further price declines towards 1020 and 880 support
  

*News sources used included data from research firm Santiment

Regards R. Linda!