Ethereum Continues to Display Strength but Still May Be Under Acute Bearish Influence

Coinpedia
Coinpedia

28 Jun 2023 7:10 AM

The Ethereum price achieved levels above $1900, a few hours ago, but failing to sustain caused a notable pullback to the current levels around $1862. The...

  • Ethereum price is experiencing a potential reversal below $1800, with bears holding more strength than bulls.
  • The price achieved levels above $1900 but pulled back to around $1862.
  • Technicals suggest a loss of momentum and a possible drop towards lower support.
  • Bulls failed to create buying pressure, reducing chances of a bullish breakout.
  • The price is holding above interim support at $1845 but formed a similar pattern as during the April highs, indicating a potential drop.
  • If the price fails to hold the interim support, it may drop towards the next target at $1758 and potentially even lower.
  • Presently, the price is trading around $1865.31, with major support at $1840 and resistance at $1900.

The sentiment of the article is bearish, suggesting a potential drop in Ethereum price.

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What is the current Ethereum price?What are the support and resistance levels for Ethereum?What are the technical indicators suggesting about the price movement?How long has the price been holding above the interim support?

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