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On October 29th, the Ethereum price gave a bullish breakout from $1600-$1575 resistance with sufficient volume rise. Today, the алтцоин is down 2% and offers a retest opportunity to the breached resistance. However, In response to the заокружујући узорак дна, the Ethereum price sets its recovery rally to hit $2000.
Кључне тачке:
- Low volume retest indicates price sustainability above the $1575
- The 20-and-50-day EMA bullish crossover would encourage more buyers for the coin
- Обим трговања унутар дана у Етхереуму је 14.5 милијарди долара, што указује на губитак од 32.6%.
Извор- Традингвиев
The Ethereum coin price has outperformed Bitcoin amid the recent recovery cycle in the crypto market. Thus, the bull run registered around 25% within a fortnight and reached a high of $1660.
Moreover, considering the parabolic recovery, the technical chart shows the formation of a заокружујући узорак дна. This bullish pattern is famous for reversing price trend and triggering a significant recovery to its neckline.
Currently, the Ethereum price trades at $1585 and retests a recently breached resistance level of $1600-$1570. Moreover, the reduced volume during the retest indicates a temporary pullback and a higher possibility for the resumption of prevailing recovery.
Thus, if the price sustains above $1570, the buyers could obtain a higher footing to lead to a further price rally. With sustained buying, the Ethereum coin price should drive 12.5% higher from its current level and reach the $1780 resistance.
On a contrary note, a daily candle closing below the $1570 mark will trigger a minor pullback in ETH/USDT pair. Thus, as per Fibonacci retracement, the 0.38 FIB at $1500 and 0.5 FIB at $1460 are crucial support to capture a dip opportunity.
Технички индикатор-
ЕМАс: the rising price reclaimed the 20, 50, and 100-day EMA signal early signs of a trend reversal. Thus, these breached slopes could also offer suitable support to maintain the bull run.
МАЦД индикатор: МАЦД and signal line entering bullish territory with a long spread indicate strong buying from traders.
Нивои цена Етхереума унутар дана
- Спот цена: 1585 УСД
- Тренд: медвједа
- Испарљивост: ниска
- Ниво отпора - 1780 и 2000 долара
- Ниво подршке - $1570 и $1500
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Source: https://coingape.com/markets/bullish-pattern-sets-ethereum-price-to-pierce-1780-barrier/