Ethereum Price Correction: What To Expect Next
As the Ethereum (ETH) price undergoes a correction phase, it is crucial for you to understand the key support levels and indicators that could influence the future price action of Ethereum. Here’s a breakdown of what you can expect next:
Ethereum’s Price Trend: Ongoing Correction Continues
– Ethereum price has declined by 31.3% from its recent peak.
– The Moving Average Convergence/Divergence (MACD) histogram shows a bearish trend.
– Despite bearish indicators, MACD lines remain bullish.
– Relative Strength Index (RSI) is currently neutral.
– Ethereum faces significant Fibonacci support at $2,866.
Ethereum’s Weekly Outlook: MACD Shows Bearish Signals
– A bearish trend is evident in the weekly MACD chart.
– MACD histogram is on a steady decline.
– MACD lines have crossed bearishly.
– RSI remains neutral in the weekly outlook.
– EMAs indicate a bullish trend in the medium term.
Will Ethereum Retrace to $2,866? Analyzing the 0.382 Fib Level
– Ethereum may revisit the .382 Fibonacci support level at $2,866.
– MACD signals a potential bearish crossover.
– RSI remains neutral with no clear momentum.
– EMAs show a bullish trend in the short to medium term.
Can Ethereum Invalidate Its Current Correction?
– Ethereum needs to surpass the 0.382 Fibonacci resistance at $3,303 to nullify the correction.
– The 4-hour chart displays bearish signals.
– EMAs have formed a death cross, indicating a short-term bearish trend.
– MACD signals bearish crossover while RSI remains neutral.
Ethereum vs. Bitcoin: ETH Continues Its Downward Trend
– Ethereum’s downward trajectory against BTC persists.
– Support found at around 0.043 BTC.
– MACD lines show bearish crossover, with a downward histogram trend.
– EMAs hint at a potential prolonged bearish trend in the medium term.
Hot Take: Prepare for Ethereum’s Price Movement
As the Ethereum price correction continues, it is essential for you to keep a close eye on the key support levels and indicators to anticipate future price movements. Stay informed and be prepared for potential bullish or bearish trends in the Ethereum market.
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