Ethereum Pullback is happening to the value area

After breaking out successfully from the value zone, Ethereum Pullback is happening to the value area.

The Ethereum price today is $4,503.50 USD with a 24-hour trading volume of $22,916,116,813 USD. Ethereum is down 4.30% in the last 24 hours, with a market cap of $534,016,224,348 USD. It has a circulating supply of 118,578,028 ETH coins.

Ethereum Pullback
Source: Tradingview

Ethereum Pullback: Analysis

As shown in the picture included in the chart, there are three phases of price movement. First is the breakout, then comes the pullback due to filling sell orders, and then comes the actual Bull movement. Ethereum is in the second phase, the pullback. The price pulled back due to the sell orders at $4,800. Ethereum should now collect the value from the upper area of value and soar again to the most-awaited mark, $5,000

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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