Ethereum може да ги види овие нивоа пред силен пресврт

Општи услови: Наодите од следната анализа се единствено мислење на писателот и не треба да се сметаат за совети за инвестиции

Since striking its ATH on 10 November, the king alt has been on a steep downtrend in the last 11 weeks. The descent saw a clash between the buyers and sellers at the $4,000-mark Точка на контрола (red) that offered enormous liquidity. But as the bearish vigor prevailed, Ether (ETH) lost nearly half its value after losing the aforementioned mark.

A convincing close below the bearish rising wedge (yellow) would reaffirm the sellers’ edge. Before a possible bullish comeback, further retracements should find testing grounds near the $2,340-mark. At press time, ETH traded at $2,774.5 after noting an 8.44% 24-hour gain.

ЕТХ дневна табела

Извор: TradingView, ETH/USD

Since falling from its Point of Control, the altcoin witnessed multiple bearish engulfing candlesticks on amplified volumes that propelled ETH to poke its six-month low on 24 January. Also, the 20 SMA (green) stood as a sturdy resistance during the entire plummet.

Interestingly, ETH formed a descending broadening wedge (white) on a longer timeframe (one month). But buyers stepped in at the $2,158-zone as the substantial slump eased. Thus, forming a bearish rising wedge on its daily chart over the past two weeks. 

This trajectory would justify a conceivable fall in the coming days before a bullish comeback from the $2,158-support. To top it up, the recent gains over the past week have been on decreasing volumes, pointing at a weak bullish move. Thus, any close above the upper trendline of the wedge or 20 SMA would most likely not result in a sustainable breakout.

образложение

Извор: TradingView, ETH/USD

Иако УПНsaw a patterned breakout, it still had to topple the half-line resistance to confirm a bullish advantage. Now, the traders/investors must keep an eye for a close above the 20 SMA. If that happens, a potential false breakout might be lurking around the corner.

Покрај тоа, ИСНХ lines refrained from a bullish crossover for nearly two months now. This reading reaffirmed the near-term bearish trend in favor of the bears despite the recent revival.

Заклучок

The chances of a potential breakdown from the bearish rising wedge were bright while the 20 SMA stood strong. In which case, the buyers should watch out when ETH retests either $2,340 or $2,158-support in the days to come. Should the bears dwindle, a sustained close above the pattern could lead to a potential bearish invalidation.