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Ethereum is melting down as the price of Bitcoin dropped again in the last hours. It's trading at 2,023 at the time of writing and it seems determined to approach and reach new lows. The price action signaled exhausted buyers, so the sellers could take the lead.
It has dropped by 2.68% from yesterday's high of 2,075 to 2,019 today's low. ETH/USD is down by 1.77% in the last 24 hours and by 0.53% in the last 7 days.
Technically, the rate escaped from a major up channel signaling a downside reversal. Still, the rate came back to test and retest the broken uptrend line and now it has turned to the downside again.
The false breakouts through the uptrend line and above 2,116 announced exhausted buyers. Personally, I've drawn a descending pitchfork hoping that I'll catch a downside movement. As long as it stays below the upper median line (uml), the altcoin could drop.
Dropping below the former low activates a deeper drop at least towards 1,931 range's support. A larger drop could be activated only after making a valid breakdown below 1,931 and under the median line (ml).
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
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