The cryptocurrency market is plunged into fear because of a bitcoin that dropped below $ 90,000. Indeed, the demand seems to run out of steam, investment products linked to cryptocurrencies record a second week in a row of capital outings. Of course, the Ethereum course is not spared, since it falls towards $ 2,000. Here is the ETH bulletin!
The Ethereum course has been tapping for six months
The prince of cryptocurrencies life a Very difficult cycleand the trend does not seem to be reversed. THE cours d’Ethereum Fall of almost 10 % in 24 hoursof 27 % in a monthof 30 % in three months and 5 % in six months : Paire 1h 24h 7j 1m 3m 6m
ETH/BTC
-0.14%
-2.58%
-3.05%
-13.63%
-26.09%
-36.08%
ETH/USDT -0.04% -9.39% -9.74% -26.62% -29.65% -5.00% Ethereum performance facing different pairs. Source: Coincheckup The situation is exactly the same against Bitcoin. In fact, the ETH/BTC ratio Fall of 2.6 % in 24 hoursof 3 % in a weekof 26 % in three months and 36 % in six months. Nothing goes from a speculative point of view for ETH.
Despite the fall, is a rebound possible for the Ethereum course?
Since March, the course blocks against $ 4,000. Consequently, the course is once again back at the level of the Trendline bullish :
Ethereum course against the dollar (1W) The course rebounded between the supports at $ 2,450 and $ 2,150 during the summer of 2024a bullish reaction is therefore possible. In the event of a rebound, the course could find the resistance at $ 2,900 and the mobile mediums 9 and 18 horses. Be careful, a loss of Trendline bullish would showSpeaking in terms of trend in place since 2022. The RSI is fragile As long as he stays stuck Under the downstream trendline. For the moment, the sellers have the advantage of momentum.
ETH return to the support at $ 2,350 in day laborers
In a day, the course ofETH is fragilebecause it evolves Under the downstream trendline et Under the mobile mediums 9 and 18 horses. The course is back on the Daily support at $ 2,350 :
Ethereum course against the dollar (1D) ETH could therefore find Buyers in this areabut it will take a change of dynamics beyond the downward trendline To be able to hope for an ascent. And it will take a clear break in the Dowing trendline on the RSI for the course to benefit from a Momentum Haussier. The prince of cryptocurrencies has posted catastrophic performances for several months, and the feverishness of Bitcoin does not help the situation. ETH is in an area where buyers have the opportunity to show themselves, as in summer 2024. Hopefully the leader of altcoins wakes up, because it is a real carnage on the market, especially on the same.