ETH at Critical Support, breakdown can quickly lead to $ 1200

ETH at Critical Support, breakdown can quickly lead to $ 1200
Despite the continued declining mood among the market participants after the latest turbulence at SVB Bank and their effects on the USDC, the price of Ethereum has found considerable support in the price range of $ 1450.
The coming days will be crucial to see whether ETH can keep the critical level or continue its negative mood.
technical analysis
of Shayan
the daily -type
After the price of Ethereum broke the upper trend line of the symmetrical triangle and consolidated over a longer period of time, it has dropped and is currently testing the previous level of outbreak at
If the ETH holds this level, retailers can count on another interest bullish leg towards the decisive level of resistance of $ 1700,000.
If the price falls below the trend line, a crash in the direction of the support level of $ 1.2,000 could be imminent. Nevertheless, the upper trend line of the triangle with the sliding 200-day average is $ 1450 and offers a solid support level.
The 4-hour diagram
The price of ETH follows an ascending price channel (as shown below). However, it recently fell under the middle equilibrium line, which led to a cascade. Nevertheless, the price has now reached the lower border of the channel and is temporarily supporting.
The price "is" in a tight range between the lower threshold at around $ 1,410 and the static resistance region at $ 1,500. ETH will probably break out of this range in the coming days, and the direction of the outbreak will determine the direction of the next short -term course for ETH.
of Shayan
The Taker Buy/Sell Ratio is an indicator that helps to understand the market mood by showing whether there are more purchase or sales activities.
During ETH's latest house phase, we observed an increase in this key figure, which confirms a positive market mood. However, when the price entered a consolidation phase and then decreased significantly, the key figure fell below one, which indicated a change a strong declining mood
As a result, the key figure fell to a new multi -month low, which indicates that the market will probably not enter into a house phase, unless the key figure reaches a value over one.
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