📉 Although the Ethereum price has fallen in recent months, investors may be hopeful that the rise is near. 🚀
- On the daily chart, the price tested the $1,750 resistance level but failed and started a decline.
- The 50-day moving average is currently providing support and preventing the price from falling to $1,550.
- As long as these levels are maintained, there is a possibility of a rally towards the 200-day moving average.
On the 4-hour chart:
- The price is in a critical zone and is hovering around the $1,650 short-term support zone.
- If this level is maintained, the price could start a new rally and target the $2,000 level in the coming months.
On-Chain analysis:
- Coinbase premium gap is used to measure the trading pressure of American investors.
- It has shown negative values in recent months, indicating that American investors are bearish on Ethereum. If this situation continues, there may be a market collapse.
- On the daily chart, the price tested the $1,750 resistance level but failed and started a decline.
- The 50-day moving average is currently providing support and preventing the price from falling to $1,550.
- As long as these levels are maintained, there is a possibility of a rally towards the 200-day moving average.
On the 4-hour chart:
- The price is in a critical zone and is hovering around the $1,650 short-term support zone.
- If this level is maintained, the price could start a new rally and target the $2,000 level in the coming months.
On-Chain analysis:
- Coinbase premium gap is used to measure the trading pressure of American investors.
- It has shown negative values in recent months, indicating that American investors are bearish on Ethereum. If this situation continues, there may be a market collapse.