Are $ 2.1,000 possible after the ETH consolidation for a long time? (Ethereum price analysis)

Von Krypto News Österreich

Ethereum kämpft seit längerem mit dem gleitenden 100-Tage-Durchschnitt, der bei 1.772 US-Dollar liegt. Allerdings lässt die Preisbewegung auf diesem entscheidenden Niveau noch nicht klar erkennen, in welche Richtung es gehen wird. Ein Ausbruch hingegen hat das Potenzial, eine sofortige Kaskade auszulösen. Technische Analyse Von Shayan Das Tages-Chart Nach einer kurzfristigen Konsolidierungsphase erlebte der Preis einen Rückgang in Richtung des gleitenden 100-Tage-Durchschnitts von 1,7.000 US-Dollar. Die jüngste PA von Ethereum konnte keine eindeutige Richtung vorgeben, da sich der Preis konsolidierte und sehr kleine grüne und rote Kerzen druckten. Dies hat den Markt in extreme Unsicherheit versetzt. Dennoch steht die Kryptowährung vor …
Ethereum has been fighting for a long time with the sliding 100-day average, which is $ 1,772. However, the price movement at this crucial level does not yet clearly show in which direction it will go. An outbreak, on the other hand, has the potential to trigger an immediate cascade. Technical analysis of Shayan The daily chart After a short-term consolidation phase, the price experienced a decline in the direction of the sliding 100-day average of $ 1.7,000. The youngest PA from Ethereum could not specify a clear direction, since the price consolidated and very small green and red candles printed. This has put the market into extreme uncertainty. Nevertheless, the cryptocurrency is available ... (Symbolbild/KNAT)

Ethereum has long been fighting with the sliding 100-day average, which is $ 1,772. However, the price movement at this crucial level does not yet clearly show in which direction it will go. An outbreak, on the other hand, has the potential to trigger an immediate cascade.

technical analysis

from Shayan

The daily chart

After a short-term consolidation phase, the price experienced a decline in the direction of the sliding 100-day average of $ 1.7,000. The youngest PA from Ethereum could not specify a clear direction, since the price consolidated and very small green and red candles printed. This put the market into extreme uncertainty.

Nevertheless, the cryptocurrency faces two critical support levels: the sliding 100-day average at $ 1,772 and the significant support area at $ 1.7,000. So if $ 1.7,000 prevent a further decline, there is the possibility of recovery with the aim of achieving the resistance area at $ 2.1,000.

eth_price_chart_2105231 Tradingview

The 4-hour diagram

In the 4-hour time frame, the price continued its downward trend towards the support area at $ 1.7,000. After reaching this level, however, he recovered easily and entered a state of consolidation that was characterized by very small candles.

In the meantime,

a descending wedge pattern can be observed in the 4-hour period, whereby the price is currently consolidating within the tight span. The lower trend line of the wedge coincides with the significant support area at $ 1.7,000, which makes it a strong level.

Ultimately, a breakthrough of the support zone at $ 1.7,000 and the lower limit of the descending wedge could trigger a cascade, since long positions are liquidated and sales pressure increases. If the price is supported, it could possibly strive for the mean boundary of the channel and even the resistance area at $ 2.1,000.

eth_price_chart_2105232 Tradingview

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