Hello, welcome to this ETH /USDT 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Ethereum (ETH) was also in the red on Saturday, as the price of the world’s second-largest cryptocurrency fell below a key resistance point.
Following a high of $1,299.84 on Friday, ETH/USD fell to a low of $1,275.09 earlier in today’s session.
This drop sees ethereum move below its recent ceiling at the $1,285 level, despite a recent upwards crossover of the 10-day (red) and 25-day (blue) moving averages.
Looking at the chart, today’s drop came as the RSI fell below its long-term support point at 51.70. It is now tracking at 51.42, as of writing.
Traders still seem to be optimistic about a potential move above $1,300, however, the RSI will likely need to surge beyond the 52.00 mark.
Should this happen, and the momentum of the moving average climb higher, then we could see ETH move towards a ceiling of $1,370.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Ethereum (ETH) was also in the red on Saturday, as the price of the world’s second-largest cryptocurrency fell below a key resistance point.
Following a high of $1,299.84 on Friday, ETH/USD fell to a low of $1,275.09 earlier in today’s session.
This drop sees ethereum move below its recent ceiling at the $1,285 level, despite a recent upwards crossover of the 10-day (red) and 25-day (blue) moving averages.
Looking at the chart, today’s drop came as the RSI fell below its long-term support point at 51.70. It is now tracking at 51.42, as of writing.
Traders still seem to be optimistic about a potential move above $1,300, however, the RSI will likely need to surge beyond the 52.00 mark.
Should this happen, and the momentum of the moving average climb higher, then we could see ETH move towards a ceiling of $1,370.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
