As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I must say that this latest dip in Ethereum (ETH) prices doesn’t surprise me one bit. The market is as unpredictable as a rollercoaster ride at times, but I’ve learned to navigate through these turbulent waters with relative ease.
Buyers have failed to hold the local rise, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has dropped by 4.63% over the last day.
On the hourly chart, the price of Etherium (ETH) is currently in the range defined by its local trend, hovering between the support level of $2,306 and the resistance level of $2,449. Since the majority of the daily Average True Range (ATR) has been exhausted, it’s unlikely that we’ll see significant price swings by tomorrow
Over a larger period, the primary cryptocurrency has persisted in its downward trend following yesterday’s bearish market close
If the candle ends up significantly above its low point, traders might soon see a rebound towards the $2,500 range
Looking at the midterm perspective, we haven’t seen any indications of a price reversal just yet. As long as the price remains above the significant level of $2,500, it’s possible that the downward trend may continue
Ethereum is trading at $2,401 at press time.
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2024-09-04 16:24