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Ethereum price analysis: ETH fails to break the $1,300 level after a period of consolidation

ethereum Price analysis shows Ethereum stuck in a tight range, which could be a good entry point to short if the price breaks. has been trading inside and is struggling to break above $1,300. ETH appears to be losing momentum as the bears start to dominate the market.

At the time of writing, Ethereum is trading at $1,259.51, down 0.84% ​​over the past 24 hours. ETH has risen by 3.68% over the past seven days, while he has fallen by 22.34% in the previous month.

Ethereum’s price has been inside a descending triangle for some time now, and it looks like this pattern could break in the upcoming sessions. There is a strong resistance level at $1,300, and if this level holds, Ethereum could fall sharply below the triangle. ETH has been trading above $1,200 for some time, but recently It has broken below its highs, indicating bearish sentiment in the market.

Ethereum Price Analysis on Daily Chart: ETH/USD Cannot Exceed $1,300

ethereum price Analysis of the daily chart shows that ETH is trading within a descending triangle pattern. ETH has been struggling to break out of $1,300 for some time and could fall well below $1,200 if the bulls fail to control the market and push the price above this level in the next session. there is.

ETH/USD 1-day chart. sauce: TradingView

Technical indicators point to neutral to bearish sentiment in the market as both RSI and MACD are below their respective average levels. The 100 EMA line is also below the 200 EMA. This indicates that if Ethereum fails to break out of $1,300 today, a downtrend could be imminent.

Ethereum price analysis on the 4-hour chart: Bears are starting to dominate the market

Ethereum price analysis on the 4-hour chart shows that Ethereum is facing strong resistance at $1,300 and could experience a sharp decline if it fails to sustain this level. , the bears are dominating the market as they are forming lower highs.

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ETH/USD 4-hour chart. sauce: TradingView

Four-hour technical indicators suggest that ETH may stay in a tight range for some time, and if the price breaks below $1,200, the bears are likely to push it lower.The 10 EMA line is also likely. It is above the 20 EMA line, indicating an imminent downtrend.

The MACD signal line is also below the MACD histogram, indicating bearish momentum in the market. The RSI has also fallen from overbought levels, indicating that the bears are beginning to dominate the market.

Ethereum Price Analysis Conclusion

Ethereum Price Analysis Shows Ethereum Has Been Down For Quite A Time And Will Continue Down If The Bulls Can’t Push The Price Above $1,300.ETH Is At $1,250 And $1,200 It is supported by , but if it breaks the triangle, it could fall sharply below these levels. The bears are slowly taking control of the market as warning signs have emerged.

Watch our price predictions while we wait for Ethereum to make more moves XDC, CardanoWhen curve.

Disclaimer. The information provided is not trading advice. accepts no liability for any investment made based on the information provided on this page. Independent research and/or consultation with a qualified professional is strongly recommended before making any investment decision.

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