ETHUSD Dominant Trend: Bearish
Supply Level: $300, $350, $400
Demand Level: $213, $190, $170
Ethereum Price Analysis
After a serious fall of Ethereum price yesterday, it refused to regain its strength as it fell back from $269 to $237 respectively. According to the 4-hour chart, the price crossed the MA of 50 days, while the red bar of the MACD histogram confirms that the price will continue to fall until it retreats. Clearly, due to the recent downward trend of the Ethereum price, it has returned to $248 currently while writing this content, suggests that you could expect more growth for ETH today because the 4-hour chart gives buyers more hope that the trend can be resumed with all the strength to reach the level of the offer at $269.
However, if the signaling lines of Stochastic 14 cross oversold territory, which indicates that there will be a recession in the market and that buyers will lose control of the market by allowing the price to fall below the support level, Ethereum will probably fall to a support level of $213 if the price does not exceed the established price level. Ethereum price is currently undecided because the next move is still unknown. However, bears are controlling the market; holding down the value of the coin. Currently, the MA 50 orange line is still a defensive line for the sellers.