Ethereum (ETH/USD) Price Succumbs to a Downward Reversal Move
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Ethereum Price Prediction – April 11
The ETH/USD market currently has it on the record that the crypto-economic price succumbs to a downward reversal motion in its valuation. The crypto trade has witnessed a high of $3,214 and a low of $3,028 at a negative percentage of 4.04.
ETH/USD Market
Key Levels:
Resistance levels: $3,250, $3,500, $3,750
Support levels: $3,000, $2,750, $2,500
ETH/USD – Daily Chart
The ETH/USD daily chart shows the crypto-economic price succumbs to a downward reversal. Price had earlier rallied to a high resistance zone of around $3,500. On April 5th, a bearish candlestick emerged beneath the value line to create an insight that has led to the present downing motion in business transactions. The 14-day SMA has been placed briefly over the 50-day SMA. And they are pointing to the east side, having breached to the downside presently by a bearish candlestick. The Stochastic Oscillators are in the oversold region. And they have conjoined their lines within it to indicate a degree of downing process is ongoing.
Will the ETH/USD market experience more downing motions as the crypto-economic price succumb to a downward reversal?
Presently, the forces to the downside in the ETH/USD market operations suggests uglier trading condition to get an early buying order at this point as the crypto-economic price succumbs to a downward reversal motion. Long-position takers have to be cautious of launching an entry against the forces to the down until a full-bullish candlestick formed from a depth of lower-trading zone before re-considering joining the market.
On the downside of the technical analysis, the ETH/USD market short-position takers may have to ride on the downing forces beyond the level at $2,950 to find support at a lower trading spot afterward. A re-occurrence of a day’s bullish candlestick at a particular material time around the lower trading arena will mean the crypto will be coming back against the US economy following that signal.
ETH/BTC Price Analysis
In comparison, Ethereum is in a downing move, pairing with Bitcoin on the price analysis chart. The cryptocurrency pair price succumbs to a downward reversal movement. The 14-day SMA indicator has briefly intercepted the 50-day SMA indicator to the upside direction. The Stochastic Oscillators are around 40 range-line, attempting to cross to the south side. The emergence of a bearish candlestick against the area of the SMAs interception point will mean the base crypto will have to go more for a downing process against the flagship counter crypto in the long run.
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