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Ethereum is trading in the red at 1,790 at the time of writing. The altcoin turned to the downside again as the BTC/USD crashed. Bitcoin's further drop should force ETH/USD to approach and reach new lows.
In the last 24 hours, Ethereum is down by 3.07% and by 1.53% in the last 7 days. It has dropped by 5.06% from yesterday's high of 1,872 to 1,777 today's low.
As you can see on the H4 chart, the rate tested and retested the lower median line (LML), failing to stay above it signaling exhausted buyers. It has failed to stay above 1,847 (range's resistance) announcing an imminent breakdown.
Escaping from the flag pattern announced a new downside movement. Now, it is challenging the 1,787 downside obstacle.
A valid breakdown below 1,787 activates more declines and is seen as a bearish signal.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
