USD

AED

AFN

ALL

AMD

ANG

AOA

ARS

AUD

AWG

AZN

BAM

BBD

BDT

BGN

BHD

BIF

BMD

BND

BOB

BRL

BTN

BWP

BYN

BZD

CAD

CDF

CHF

CLF

CLP

CNH

CNY

COP

CRC

CUC

CUP

CVE

CZK

DJF

DKK

DOP

DZD

EGP

ERN

ETB

EUR

FJD

FKP

GBP

GEL

GHS

GIP

GMD

GNF

GTQ

GYD

HKD

HNL

HRK

HTG

HUF

IDR

ILS

IMP

INR

ISK

JMD

JOD

JPY

KES

KGS

KHR

KMF

KPW

KRW

KWD

KYD

KZT

LAK

LBP

LKR

LRD

LSL

LYD

MAD

MDL

MGA

MKD

MMK

MNT

MOP

MRU

MUR

MVR

MWK

MXN

MYR

MZN

NAD

NGN

NIO

NOK

NPR

NZD

OMR

PAB

PEN

PGK

PHP

PKR

PLN

PYG

QAR

RON

RSD

RUB

RWF

SAR

SBD

SCR

SDG

SEK

SGD

SHP

SLL

SLE

SRD

SSP

STD

STN

SVC

SYP

SZL

THB

TJS

TMT

TND

TOP

TRY

TTD

TWD

TZS

UAH

UGX

UYU

UZS

VES

VND

VUV

WST

ZAR

ZMW

XCG

ZWL

ZWG

NewsBTC 2023-06-13 19:00:33

Ethereum Bears Set Their Sights On Next Downside Target If $1,700 Support Breaks

The price of Ethereum is currently on a downtrend and is approaching a significant support level. In the past 24 hours, there has been little movement on the chart, while on the weekly chart, ETH has experienced a depreciation of over 3%. This downtrend in Ethereum is consistent with the volatile behavior of Bitcoin, which has been moving back and forth around the $26,000 price mark. Other altcoins have also been exhibiting similar patterns and the technical analysis of Ethereum indicates a bearish influence. Both the demand and accumulation levels on the chart have remained low. So it is crucial for Ethereum to move away from the $1,700 support line to avoid further bearish pressure. If the price falls below this level, it may become challenging for Ethereum to recover. Related Reading: MATIC Price Displays Recovery But Can Bulls Sustain The $0.50 Support? Additionally, for Ethereum to initiate a recovery, Bitcoin needs to halt its sharp retracement on its own chart. The decline in the Ethereum market capitalization also suggests that sellers currently have the upper hand in the market. Ethereum Price Analysis: One-Day Chart At the time of writing, ETH was trading at $1,750. Following a rejection at the $1,840 price level, ETH has been experiencing a downtrend with unsuccessful attempts at recovery. The coin faces overhead resistance at $1,770. If Ethereum manages to surpass this resistance level, it may receive support from the bulls and potentially reach $1,800. Conversely, if sellers exert further pressure, Ethereum could drop below its nearest support level at $1,700. A decline below this level would likely lead to a price of around $1,660 for ETH. The volume of ETH traded in the last session was indicated as red, suggesting low buying strength in the market. Technical Analysis Since the beginning of June, ETH has experienced a notable decrease in demand, which has coincided with increased market volatility. As a result, buyer confidence has declined. The Relative Strength Index (RSI) indicates that the market is oversold, as it is below both the half-line and the 40-mark. Additionally, the price of ETH has fallen below the 20-Simple Moving Average, suggesting low demand and indicating that sellers are currently driving the price momentum in the market. However, if ETH can surpass the $1,770 level, there is potential for demand to make a comeback. Breaking above this resistance level could attract buyers and potentially lead to an increase in demand for Ethereum. In addition to the previously mentioned indicators, other technical indicators on the chart of the altcoin suggest sell signals. The Moving Average Convergence Divergence (MACD), which measures price momentum and potential reversals, has formed red signal bars and these bars are associated with sell signals for the altcoin. Related Reading: Cardano Price Falls Below Key Support Levels, Will It Continue To Fall? The Bollinger Bands, which represent price volatility and fluctuation, have started to diverge. This suggests that the price of the altcoin may experience increased fluctuations in the upcoming trading sessions. Given this, it is crucial that ETH holds the $1,700 support or risk rapid decline. Featured Image From Unsplash, Charts From TradingView.com

Τα περισσότερο Αναγνωσμένα Νέα

Ordinals (ORDI) Price Prediction 2026, 2027-2...
2026-08-19
Pump.fun (PUMP) Price Prediction 2026,2027-20...
2026-08-19
Ondo Price Prediction 2026, 2027 – 2030: Can...
2026-08-19
Bitcoin Trading Volume Falls Below $1B as Mar...
2026-08-19
Bitmine Nears 5% Ethereum Goal After Adding A...
2026-08-18
Pi Network New: Will Pi Price Rally After Aug...
2026-08-18
Polygon (POL) Price Surges: Can Bulls Break t...
2026-08-18
Trump’s Crypto Summit Tomorrow: CLARITY Get P...
2026-08-18

Σχετικά Νέα

Cardano Tests $0.175 as On-Chain Activity Continue...
19 Aug 2026
Asian Stocks Market Today is Down Slide
19 Aug 2026
Bitway Price Soars 90% as Traders Flood Into BTW:...
19 Aug 2026
XRP Institutional Holdings Report 2026: Corporate,...
19 Aug 2026
What to Expect From FOMC Minutes Today?
19 Aug 2026
When Will Altcoin Season Start in 2026?
19 Aug 2026

Διαβάστε την Αποποίηση Ευθυνών : Όλο το περιεχόμενο που παρέχεται εδώ στον ιστότοπό μας, τους υπερσυνδεδεμένους ιστότοπους, τις σχετικές εφαρμογές, τα φόρουμ, τα ιστολόγια, τους λογαριασμούς κοινωνικών μέσων και άλλες πλατφόρμες (“Site”) προορίζεται μόνο για τις γενικές πληροφορίες σας, που προέρχονται από τρίτες πηγές. Δεν κάνουμε καμία εγγύηση οποιουδήποτε είδους σε σχέση με το περιεχόμενό μας, συμπεριλαμβανομένης ενδεικτικά της ακρίβειας και της ενημέρωσης. Κανένα μέρος του περιεχομένου που παρέχουμε δεν αποτελεί οικονομική συμβουλή, νομική συμβουλή ή οποιαδήποτε άλλη μορφή συμβουλών που προορίζεται για τη συγκεκριμένη εμπιστοσύνη σας για οποιονδήποτε σκοπό. Οποιαδήποτε χρήση ή εξάρτηση από το περιεχόμενό μας είναι αποκλειστικά με δική σας ευθύνη και διακριτική ευχέρεια. Πρέπει να πραγματοποιήσετε τη δική σας έρευνα, να ελέγξετε, να αναλύσετε και να επαληθεύσετε το περιεχόμενό μας προτού βασιστείτε σε αυτά. Η διαπραγμάτευση είναι μια εξαιρετικά επικίνδυνη δραστηριότητα που μπορεί να οδηγήσει σε μεγάλες απώλειες, επομένως συμβουλευτείτε τον οικονομικό σας σύμβουλο πριν λάβετε οποιαδήποτε απόφαση. Κανένα περιεχόμενο στον ιστότοπό μας δεν προορίζεται να είναι παράκληση ή προσφορά