ETH/USDT - First Day of The Week is RED
The starter of the day is ETH. Despite recent bullish efforts, the price has failed to secure a convincing breakout above the local resistance, indicating potential exhaustion among buyers and a potential overtake by sellers.
The price action remains under the influence of a bearish technical structure, as indicated by its proximity to the upper boundary of the Bollinger Bands. Should this technical level be breached, there is room for downward price movement, with a bearish target set at the $2000 mark.
So, until we are below the resistance and below that "yellow zone," we are going to look for a potential re-test to EMAs (which are close to crossover).
Swallow Team
The price action remains under the influence of a bearish technical structure, as indicated by its proximity to the upper boundary of the Bollinger Bands. Should this technical level be breached, there is room for downward price movement, with a bearish target set at the $2000 mark.
So, until we are below the resistance and below that "yellow zone," we are going to look for a potential re-test to EMAs (which are close to crossover).
Swallow Team
Comment:
Price struggle to have proper breakout so there might be a good momentum for drop!
Price struggle to have proper breakout so there might be a good momentum for drop!
Comment:
Daily candle is trying to hold the resistance zone (if we see the same push here then a potential movement to upper zones of $2150 is imminent)
Daily candle is trying to hold the resistance zone (if we see the same push here then a potential movement to upper zones of $2150 is imminent)
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After few attempts ETH is still looking for ways to move to lower zones!! We are still waiting for a nice breakdown to happen!