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Ethereum suffering

Ethereum seems in trouble

What's in this article

Ethereum seems in trouble as its price broke down from an important supporting trend line.

Ethereum price today is $4,024.90 USD with a 24-hour trading volume of $29,806,213,982 USD. Ethereum is down 2.88% in the last 24 hours, with a market cap of $477,693,193,487 USD. It has a circulating supply of 118,684,357 ETH coins.

Ethereum
Source: Tradingview

Ethereum: Analysis

Ethereum was decline smoothly on a lower low trend line and yesterday it broke below that, touching the $4000 mark briefly. If Ethereum fails to regain the trend above the trend line it might turn extremely bearish as it was bleeding in May. Fib 0.5 at $4300 is now a local resistance level of Ethereum and $4000 acts as the major support zone that Bulls want to bid on.

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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