Hello Traders!
Ethereum continues to undergo a downtrend. The price has tested the MA100 on the weekly timeframe, the RSI indicator is in the bearish zone.
Given the current state of the market, we can expect the continuation of the devaluation of the asset in search of buyer liquidity.
We may consider shorting the asset in case of price-fixing under the support level of $1960.
It is better to start the new strategy after the price decreases in the area of $1050 - $1230 with the aim of fixing the profits in the range of $1740 - $1960
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
Ethereum continues to undergo a downtrend. The price has tested the MA100 on the weekly timeframe, the RSI indicator is in the bearish zone.
Given the current state of the market, we can expect the continuation of the devaluation of the asset in search of buyer liquidity.
We may consider shorting the asset in case of price-fixing under the support level of $1960.
It is better to start the new strategy after the price decreases in the area of $1050 - $1230 with the aim of fixing the profits in the range of $1740 - $1960
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice