ETH trading at its 4-month lowest now
The market capitalization of ETH is second, and it is currently trading at its 4-month low. It is also in red for six consecutive weeks. ETH has risen 5% since its recent low of $2201 and now trades at $40,878,366,928 US Dollars per hour. Ethereum is the dominant cryptocurrency with a market capitalization of $280bn and a dominance rate of 19.89%.
ETH traded at $2,321 as of the writing date.
ETH has plunged nearly 36% in the last six weeks after a ‘Bearish Engulfing’ at its recent high of $3,551. The asset is currently facing strong resistance at its 20-day Moving Average and is now forming a Lower Top Lower Bottom’ pattern. Strong support is at $2,160 for ETH. It can hold the support and we can expect some relief rally. A break below it will cause a further fall, which could lead to the asset testing its $2,000-$1,950 Levels.
Support 2Support 1AssetResistance 1Resistance 2$1,950$2,150ETH$2,550$2,850
Disclaimer: This report should not be regarded as investment advice. It does not consider the financial situation or investment goals of investors. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that have not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, reliability, completeness, correctness, completeness, or reliability of any information, opinions, and conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in response to new events or circumstances after the date of the report was made. Trading and Investments in cryptocurrencies viz. Bitcoin Cash, Ethereum, and other cryptocurrencies are highly speculative investments that are subject to market risk. The Author’s analysis should be used only as information and should not be considered investment advice.
10th-May-2022 ZebPay
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