ETH Price Faces A 17% Drop If Rectangle Pattern Support Breaks
The leading smart contracts token tumbled from support at $1,800 last week amid a market-wide sell-off that saw Bitcoin price drop from its range support at $29,000, before seeking support at $25,000. advertisement Ethereum came under heavy selling pressure, as traders swiftly switched to short positions that left many investors liquidated. Support that had been anticipated in the region between $1,780 and $1,800 due to the presence of the 200-day Exponential Moving Average (EMA) did little to stop bears from pushing the price lower. Trading below the upper dotted ascending trendline, which had provided support since November 2022, following the FTX exchange implosion enhanced the bearish sentiments, and thus encouraged traders to sell more. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...