Among the back, which shook the cryptographic market, the price of Ethereum was between the stone and the hard place. At the moment, the Bulls and Bears are still closed in dragging the war in the pursuit of taking control of the digital resource. Here are now many levels to watch, which can determine the next steps for the price of Ethereum.
After returning below $ 4,300 at the weekend, the price of Ethereum is now trading Very close to the critical demand zone. Crypto Analyst Profitmagnet Review of the most critical events This is in stock exchange analysis, showing the possibilities of the price of Ethereum because he wants to test this zone.
Until now, the price of Ethereum consolidated from 4,200 to 4300 USD after she faced the resistance from USD 4,600 to 4,800 last month. This now led to the factor defining the next phase of movement and whether the return or decrease inheritance dominates.
The assessment of the current rush cryptographic analyst notes that a recent growth was supported by a stubborn trend line, starting from the August minima. However, there is still a matter of the bearing of the trend, which still limits the rush up, thus causing the rally.
At this point, it is simply a matter of this level Raters prices ethereumAnd what is successfully breaking through. Hence, having demand above USD 4300 is critical if the bulls want to continue the rally. If he is successful, the analyst sees the price of Ethereum reaching up to $ 4,600-4800.
On the other hand, the bears take over and force the demand for demand again. It happened if the bulls were unable to maintain its current demand, which led to the price failure. From there, the next main level would be support of 4000 USD, increasing the price of Ethereum to the next high psychological level.
This trend shows that although the market bends stubborn, bulls still have relatively needy hold, which means he can go sideways at any time. “The structure suggests potential stubborn reversal, but confirmation with a break of the bear and demand reaction is required,” said the cryptographic analyst.
A distinguished picture from Dall.e, chart from tradingview.com
