The price of Ethereum hesitated low after Tuesday reached a recent monthly level. This growth was a very needed relief on the cryptocurrency market, which watched the price of ETH fought while Bitcoin flourished. However, the stubborn breakthrough did not last long, because the bears once again took control, and sellers are now dominating. Given this recent trend, it is possible that the price of Ethereum has brought the end of the price.

Ethereum lower minimum shows a disturbing trend

Cryptographic analyst Gianni Pichichero has explained What may happen with the price of Ethereum and why the current trend can be worried. This undergoes various processes and the way Altcoin moves from the beginning of the week, starting from Monday to the bear, which surprised the market.

Gianni explained that the opening range for a week set the current monthly high level before breaking the low level. This showed the entrance of enormous players For the market, because the price of Ethereum has been pushed quickly to touch 2,700 USD for the first time in over a month. This gave the stubborn tone of the week, the next day, when Tuesday also showed the recovery force,

The next day, on Tuesday, the price of Ethereum once again pumped and placed a higher level than on Monday, which suggests that the continuation was in the game. The day also ended in green, because Eth Bulls remained dominant on Trade Day.

On Wednesday there was a return on the market, while in previous days they were dominated by stubborn rally, consolidation was the order of the day. As a result, the price of Ethereum back within the opening range of the highest week, and then marked the first red closing of the week.

The first red close, explains Gianni, he was bear. Initially, he did not signal that Ethereum price will still be disappointed. However, this showed that the stubbornness that began on Monday may finally end. Then, until Thursday, it was a full reversal, because the market tested the minima the previous day. Thursday red closing was as bear as the market, waiting for the Bearish News.

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The creation of the lower low in both days is disturbing, and the analyst outlined on the chart that the price division may exist. In this case, the price of Ethereum may be promoted below USD 2,300 again, destroying the significant amount of the assembly in the last few weeks.

As it develops, Gianni suggests that there would be none Crazy movementsBut the focus should consist in searching for opportunities to sell high on the current market. “I will look for all high opportunities after messages, strengthened by a bear price, as triple peaks, double peaks and all projects to the latest highest level,” he said.

A distinguished picture from Dall.e, chart from tradingview.com