The Latest Price Analysis: Ethereum (ETH) Drops Below Moving Average
- Ethereum’s price has dropped to $1,802 after falling below the 50-day simple moving average (SMA).
- Buyers have held the price above $1,800 support since Aug. 1, but the upward movement was halted around the $1,850 high.
- If buyers keep the price above the moving average lines, Ether will rise and retest $2,000, but if the bears break below $1,800 support, Ether will crash again.
- The Relative Strength Index for period 14 is at 41, indicating a bearish trend, and the price bars are below the moving average.
- Ethereum is in a steady downtrend on the 4-hour chart, forming lower highs and lower lows. If it falls below $1,800 support, the bearish momentum will resume.
Hot Take
The latest price analysis shows that Ethereum’s price has dropped below the moving average, indicating a bearish trend. If buyers can keep the price above the moving average lines, there is a possibility of a rise towards $2,000. However, if the bears break below the $1,800 support, Ethereum will crash again. The Relative Strength Index and the position of the price bars below the moving average contribute to the altcoin’s decline. On the 4-hour chart, Ethereum is in a steady downtrend, forming lower highs and lower lows. It remains to be seen whether the buyers can regain control and reverse the bearish momentum.
By
By
By
By
By