ETH Could Fall – October 30
The crypto economy could fall soon between the trading values of $1,750 and $1,450, according to the strength of the ETH/USD market indicator. The price is currently trading at $1,605.85 with a minute average rate of 0.90%.
ETH Could Fall: ETH Market
Resistance levels: $1,750, $1,850, $1,950
Support levels: $1,450, $1,350, $1,250
ETH/USD – Daily Chart
The appearance of a bearish candlestick below the trading barrier level of $1,750 on the ETH/USD daily chart indicates that the crypto market could fall soon. A 1-hour chart in the short term will provide an early outlook of getting sell orders at a high point around the value line. The 14-day SMA indicator is at $1,414.34, underneath the $1,497.55 value line of the 50-day SMA indicator. The horizontal drawn at the $1,250 support line shows the actual pivotal line the market has to keep against any downward force that can emanate in the subsequent trading sessions. The Stochastic Oscillators have their lines together to consolidate in the overbought region.
Is there still hope for the ETH/USD market bulls to surge more highs away from their current trading spot?
Surging high of the ETH/USD market operation away from its present trading area lacks the energy to keep afloat through variant resistances. Therefore, buyers would have to stay off placing new buying order positions even though the market tries to push for some points above $1,600. It would be necessary that the price goes for a retracement to the lower-trading zone around the SMA trend lines. Presently, it is un-technically wise to launch a buying order.
On the downside of the technical analysis, the ETH/USD market bears would need to be on alert to launch a selling order position when the price encounters resistance around $1,750. The main baseline is closely below the current trading zone at $1,500. An aggressive breakdown of the value line will lead to a resumption of a bearish trend again. If that presumed scenario plays out accordingly, the crypto market will potentially revisit a lower-trading spot near the previous low.
ETH/BTC Price Analysis
In comparison, Ethereum’s trending ability against Bitcoin has been pushing northward afloat over the trend lines of the SMAs. The 14-day SMA indicator has crossed northward to conjoin with the 50-day SMA indicator. The Stochastic Oscillators have moved northward into the overbought region, clogging their lines. That shows the base crypto is approaching an exhaustion stage, pairing with the counter-trading crypto. The moment a bearish candlestick surfaces
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