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Ethereum Bearish Trend

Ethereum Bearish Trend Move continues below $4200

Ethereum Bearish trend is obvious on the 1-day timeframe and can move the lower trendline shown in the chart.

The Ethereum price today is $4,152.65 USD with a 24-hour trading volume of $17,080,352,111. Ethereum is down 1.07% in the last 24 hours, with a live market cap of $491,641,479,878. It has a circulating supply of 118,392,115 ETH coins.

Ethereum Bearish Trend
Source: Ethereum TradingView Chart

 

Ethereum Bearish Trend: Analysis

Ethereum is testing the resistance level at fib 0.236 at $4345. Ethereum is trying hard to keep up with the support level of $4000 however, we don’t see Ethereum succeed in it and drop to the local support level at $3937. This is not the end as in case of further correction which is very likely to happen, Ethereum might drop to the key support level (shaded area) near fib 0.5. After collecting liquidity below $4000, Ethereum will resume making the new highs.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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