This is how Ethereum can avoid further tumble

What's in this article

Ethereum has been wandering between $4200 and $3600 more than 28 days before it fled down. Ethereum entered this second range zone on January 6 and ranged for more than two weeks.

Ethereum price today is $2,871.30 USD with a 24-hour trading volume of $19,832,689,820 USD. Ethereum is down 8.59% in the last 24 hours, with a market cap of $342,402,220,956 USD. It has a circulating supply of 119,249,883 ETH coins. 

Source: Tradingview

Ethereum: Analysis

Ethereum now trades below $3000 resting on a lower lows trend line. To avoid a further slump to the next support zone of $2600, fib 1.618, ETH needs to reclaim the support of $3100 in the second range zone. We might see a relief  rally to $3000 again but as the weekend approaches, the descend might continue.

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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