ETH Loses 16% in Three Days, Retest or a More Pain to Come? (Ethereum Price Analysis) - BitcoinEthereumNews.com
EthereumETH Loses 16% in Three Days, Retest or a More Pain to Come? (Ethereum Price Analysis)07 / 26 / 2022Balita ng Ethereum ng Bitcoin As mentioned in the previous analysis, traders realized profit when the price reached the resistance at $1,700. This caused ETH to witness a 16% downward correction. All eyes are on the FOMC meeting thats scheduled to take place tomorrow. This week, the earning report of technology giants such as Meta, Alphabet, Amazon, and Microsoft can also affect the financial markets. Teknikal na Pagsusuri ng By Kulay-abo Ang Pang-araw-araw na Tsart The bears defended the overhead resistance at $1700 (in red) and stopped the recent vertical rally in a daily timeframe. This caused the price to sink below the horizontal support at $1,420, which overlapped with the 0.5 Fibonacci level at the time of writing. The following support ranges between $1280-$1320 (in green). It is crucial that the bulls can hold the price above this range. If ETH closes below it, the momentum will tilt in favor of the bears, and the cryptocurrency could miss a significant chance to advance before the Merge event. On the other hand, if it bounces from the support level, it could be the case that when the 100-day