Ethereum suffering

Ethereum suffering a Breakdown:

Ethereum is suffering a breakdown of sideways trading as Bears dominate the day breaking to the downside outside rectangular structure whilst respecting $3,826 support.

The Ethereum price today is $3,806.56 USD with a 24-hour trading volume of $26,459,638,732 USD. Ethereum is down 5.15% in the last 24 hours, with a market cap of $451,968,017,728 USD. It has a circulating supply of 118,734,065 ETH coins.

Ethereum suffering
Source: Tradingview

Ethereum suffering: Analysis

RSI shows further weakness and we would look at the lower FIBS for accumulation seeing the local support at $3615. The pattern of highs and lows breaks here and, if it’s not a fake-out, the price might stumble even more to the $3263 mark, that’s major support now. The resistance level for Ethereum is at $4000 as sell orders will be waiting there.  Price will not move upwards given there not no major volumes.

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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