When this occurs, market volatility and instability will be normal. Investors should take less chances now to avoid being caught up in this collapse. The mix of established bear trends and such high levels of borrowing can spell disaster.
Investors should take less chances now to avoid being caught up in this collapse.
The mix of established bear trends and such high levels of borrowing can spell disaster.
Ethereum has failed to break over the $1,300 barrier level against the US dollar. ETH is falling and might go below the $1,265 support level. From the $1,265 support level, Ethereum began a minor upwards correction. ETH fell as low as $1,267 before recovering over the $1,300 level.
The price broke over the 23.6% Fib retracement level of the decline from the $1,338 swing high to the $1,267 low. Ether even tried to break over the $1,300 resistance zone and the 100 hourly simple moving average. However, the bulls were unable to gather momentum for a close over $1,300. The price of Ethereum failed to clear the 50% Fib retracement level of the decline from the $1,338 swing high to the $1,267 low.
On the 4-hour chart, the price is facing $1,300 resistance as well as the falling channel top line. If ETH trades and closes below $1,260, there will be a short period of panic selling. Over the last week, Ethereum price action has been unable to develop a clear trend direction. Following the recent swing high of $1,380, ETH/USD began a steady retrace downward, gradually falling back to the $1,265 support.
According to Price Analysis, the market capitalization of this ETH is expected to be $156,720,159,587. The coin's 24-hour trading volume is roughly $8,782,058,207. The market capitalization of Ethereum has fallen by 1.44%. However, trading volume Increased by 6.40% during intraday trading. The market capitalization to volume ratio is 0.05604.
Furthermore, there was a break above a connecting bearish trend line with resistance above $1,320 on the hourly chart of ETH/USD. It is now trading below $1,300, as well as below the 100 hourly simple moving average. The $1320 level is an immediate upward hurdle. The first significant resistance level is at $1,330. It is around the 50% Fib retracement level of the most recent decline from the swing high of $1,338 to the low of $1,269. If the price of Ethereum increases over the $1,330 mark, it may hit $1,370 or return to the $1,400 level.
If ethereum fails to break over the $1,320 barrier, it may fall further. On the downside, an initial support level of $1,270 exists. The next big level of support is at $1,265. A break below $1,265 on the downside might lead to a major loss. In the aforementioned scenario, ether's price may tumble to roughly $1,200.
KEY LEVELS :
RESISTANCE LEVEL : $1,320-$1,360
SUPPORT LEVEL : $1,250-$1,200
The price of ETHEREUM is now trading near the bottom of the symmetric triangle pattern. ETH has been trading in a tight range of $1400-$1260 since September 19th. A new trend will emerge if either of the sides is broken. Have you seen the trend on the graph?
