The crypto was astonished yesterday for bullish support, but the price had a sharp reversal, thus signaling a bearish trend, this might be a market correction or a change in market direction.
Supply levels: $302, $324, $363
Demand levels: $273, $259, $225
ETHUSD Trends: Range
ETHUSD trend has been on a ranging outlook a rejection of the bullish movement, it embarked on yesterday. The coin returned the resistance level of $302, and it might head down to the price level of $273, or go down further.
The daily chart shows that the price has gone beyond the 14 exponential Moving Average and is targeting the 50 Exponential Moving Average.
ETHBTC Market Analysis: Bearish
ETHBTC has been impressive in its bearish movement, the crypto has been able to convincingly break out a major resistance and has gone down significantly to a lower low level, and the price might be going either for a reversal or correction soon.
From the 4-hour chart, it is crystal clear that the 14 and 50 Exponential Moving Averages are on the bearish side, and the MACD Indicator signal lines and Histogram bars are showing a strong bearish indication.
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