Present Market Scenario doesn’t seem favourable for ETHEREUM; ETHEREUM PRICE ANALYSIS

Must Read

LISK (LSK) Price Analysis: Bulls Standing Strong With Lisk Future Price

Lisk is being on the positive side beside the majority of the coins facing downtrend in the cryptomarket. ...

BCH.TOP CEO Bet $9 Million Worth Bitcoin On The BCH Price With Bixin CMO

Xiong Yue is a CMO of Bixin which offers a wide range of Bitcoin-related services. Xiong Yue made...

UAE Banks Benefit From Dubai’s KYC Blockchain Platform? Let’s Find Out

The new decision to make Dubai's own know your customer (KYC) blockchain will be able to support the...
0
Zaryab Afser
A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

The present scenario not at all seems to be in favour of Ethereum as the bearish trend of ETH doesn’t seem to end anytime soon.

Speaking about the present scenario, one can clearly witness the enormous hurdles being faced by Ethereum. This is so because although Ethereum recovered some of the amounts above $290 level against the US Dollar it terribly failed to cross the threshold of $300 and $302. Moreover, no proper close above the $302 level was observed. All these factors ultimately yielded in the decline in Ethereum below the $290 support.

IN-DEPTH ANALYSIS

Well, there is no denial in the fact that this debilitating condition of ETH price indeed needs some attention and analysis as to figure out what exactly is going on behind the scenes.

If observed closely it can clearly be seen that the ETH price seems to be facing enormous hurdles near the $295-$296 level. In fact, it’s even finding it difficult to hold gains above the broken trend line as well as $285.

Now in order to move into the positive zone, there is an imperative need for the price to settle above the $302 level plus the 100 hourly SMA.

Therefore it won’t be wrong to presume to that for ETH to make a decent recovery, it’s going to be really crucial for it to break the $296 as well as $300 resistance levels.

Hot News

LISK (LSK) Price Analysis: Bulls Standing Strong With Lisk Future Price

Lisk is being on the positive side beside the majority of the coins facing downtrend in the cryptomarket. It is having a gain...

BCH.TOP CEO Bet $9 Million Worth Bitcoin On The BCH Price With Bixin CMO

Xiong Yue is a CMO of Bixin which offers a wide range of Bitcoin-related services. Xiong Yue made a statement on the Chinese...

UAE Banks Benefit From Dubai’s KYC Blockchain Platform? Let’s Find Out

The new decision to make Dubai's own know your customer (KYC) blockchain will be able to support the bank's asset quality and improve...

NEO (NEO) Price Analysis: NEO On Downtrend With Strong Support Level Of $10.00 

NEO is on the downtrend after making a fail attempt to cross $17 a few days back.  Currently, it is facing an overall...

FTX Amongst The Top 5 Unprofitable Traders In The List Of Bitfinex Leaderboard

The performance of FTX token was nastiest amongst all other tokens in the coin market. Losing hold in the coin market, FTX becomes...

A Class-Action Lawsuit Against Ripple By Retail XRP Buyers

The U.S. District Judge Phyllis Hamilton of the Northern District of California permitted retail XRP buyers to ensure a class-action lawsuit against Ripple. ...

BCH.TOP CEO Bet $9 Million Worth Bitcoin On The BCH Price With Bixin CMO

Xiong Yue is a CMO of Bixin which offers a wide range of Bitcoin-related services. Xiong Yue made a statement on the Chinese...

UAE Banks Benefit From Dubai’s KYC Blockchain Platform? Let’s Find Out

The new decision to make Dubai's own know your customer (KYC) blockchain will be able to support the bank's asset quality and improve...

NEO (NEO) Price Analysis: NEO On Downtrend With Strong Support Level Of $10.00 

NEO is on the downtrend after making a fail attempt to cross $17 a few days back.  Currently, it is facing an overall...

FTX Amongst The Top 5 Unprofitable Traders In The List Of Bitfinex Leaderboard

The performance of FTX token was nastiest amongst all other tokens in the coin market. Losing hold in the coin market, FTX becomes...

RELATED NEWS

LISK (LSK) Price Analysis: Bulls Standing Strong With Lisk...

Lisk is being on the positive side beside the majority of the coins...

BCH.TOP CEO Bet $9 Million Worth Bitcoin On The...

Xiong Yue is a CMO of Bixin which offers a wide range of...

UAE Banks Benefit From Dubai’s KYC Blockchain Platform? Let’s...

The new decision to make Dubai's own know your customer (KYC) blockchain will...