Trading week in the ETH market was marked by excitement and unpleasant emotions for investors. Sellers are again approaching a critical point, below which the ETH price will enter a phase of long and protracted correction. The ETH price could not go above $3250 and fell by 15% last week. On the one hand – an unpleasant situation. However, if you compare the dynamics of the Bitcoin fall for the week (13%), in the ETH case this is a good result. Usually, other cryptocurrencies fall 2 times stronger than Bitcoin. And looking at the weakness of Ethereum buyers over the past few weeks, a fall of 15% is a good result. https://www.tradingview.com/x/qRqUSmsT/ The main trend line that buyers have been keeping since March 2021 is still under their control. Therefore, the organization of a new growth wave with the final target of $3600 – is what is now available to buyers. Though, the global picture in the ETH market is still unpleasant. The whole fall wave from November 2021 takes place on small volumes. Even now, near the local lows, we do not see any clear interest from buyers. If the new growth wave is just as sluggish and without volumes, then in the near future the ETH market will face a strong fall wave to $1720. Technical Analysis Of ETH On The Daily Timeframe https://www.tradingview.com/x/2LjZB1u0/ Analyzing the price movement on the daily timeframe, we can conclude that the ETH price is in 24% consolidation. Sellers managed to ...
