What will happen to Ether (ETH)? – analysis
The failure to maintain Ether (ETH) above the 20-day EMA ($3,550) on March 18 attracted aggressive selling by the traders. That pulled the price to the 50-day SMA ($3,113) on March 20.
The 20-day EMA has started to turn down, and the RSI is in the negative territory, suggesting that bears have the upper hand. The recovery is likely to face selling at the 20-day EMA. That could keep the ETH/USDT pair stuck between both moving averages for some time.
A break below the 50-day SMA will suggest that the bulls are dumping their positions in a hurry. That could sink the pair to $2,717. Alternatively, a break and close above the 20-day EMA will signal that the bulls are back in the game.
