Ethereum faces a heavy downfall after having a slip from its trading price above $200 and now near its major support level of $180. Important to note that the whole crypto market is facing a dull trading phase since past 48 hours and the major coins have lost a colossal amount in this drop. But Ethereum has enough potential and it is a coin for long-term investment, so is expected to soon make a way through the bears it is facing currently.
The Ethereum price chart is a data feed from Coinbase as on 22nd August at 12:10 UTC.
Tracing the 4-hourly movement of the coin, it is very well evident that the coin has an active bearish effect and it is going to remain the same throughout the day. Ethereum price will make a steady come back by improving and trading beyond $190 and $195. ETH price was trading at $184.24 around 08:15 UTC. Around 10:10 UTC the coin grew by 2% and reached above $185 at $187.94 where the coin was trading in the overbought region. Unfortunately, the coin could not hold tight and slipped to trade at $185.28. Currently the coin is trading slightly above at $186.52. The ETH is going to face the major support at $180 and major resistance at $188, $190 and $195.
The price of Ethereum continues to trade with a strong selling pressure and the current trading price is notably lower than its 10-day SMA ($192.24) and 10-day EMA ($194.94).
The MACD of the coin indicates that ETH just had a ray of bullish divergence after being traded as low as $182 in the past 24 hours. With this the coin even tries to embark on the positive side.
The RSI of the coin remains inclined towards the upper range near 70.
ETH makes constant efforts to reach $190 again but faces a pullback after reaching $188.85.
Ethereum investors to have a loss-making phase if […]
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