Short Squeeze Incoming for ETH as $1.7K Remains Main Bullish Target? (Ethereum Price Analysis)
Ethereum Short Squeeze Incoming for ETH as $1.7K Remains Main Bullish Target? (Ethereum Price Analysis) 2 minuto ang nakalipas Balita ng Ethereum ng Bitcoin Despite the bearish sentiment prevailing in the futures market and among traders, Ethereums recent price action provides a glimmer of hope, as it hints at the possibility of a short-term reversal to reclaim the 200-day moving average. Teknikal na Pagsusuri ng By Shayan Ang Pang-araw-araw na Tsart Ethereums price has been in a prolonged downtrend after failing to surpass the $2.1K mark. Sellers successfully pushed the price below the 100-day and 200-day moving averages, around $1.8K, resulting in a multi-month low of $1,531. However, Ethereums price found critical support between the 50% and 61.8% Fibonacci retracement levels, with values of $1,646 and $1,529, respectively. Despite the bearish market sentiment, the cryptocurrency has shown bullish signs, particularly a clear bullish divergence between the price and the RSI indicator. This suggests a potential change in the markets trend. If the price can reclaim its prior significant swing high, traders can expect a period of steady price appreciation, aiming to regain the 200-day moving average. Pinagmulan: TradingViewAng 4-Oras na Tsart We can observe a consistent downtrend when we focus on the 4-hour timeframe. The price has been consistently breaking below its