- Ethereum price again slipped below the $1300 mark in the intraday trading session.
- The market capitalization has fallen by 2.5% to $157.7 billion in the last 24 hours.
The crypto market is down slightly as the total market capitalization declined by 1.26% to $860.19 billion. Amid the positive vibes, Bitcoin climbed to a monthly high above $18K, and Ethereum price moved above the $1300 level. Bears started applying selling pressure on ETH, which pushed the price below the $1300 mark.
As per Coinglass, nearly $23.8 Million have liquidated in last 24 hours. However, Ethereum price is moving lower and Long/Short Ratio is present at the 0.92 mark. Shorts are greater than Longs, suggesting bears dominance on ETH.
Ethereum Price Chart on 4 Hour
Ethereum price is declining on the 4-hours chart. After reaching a 30 day high of $1352. Amidst the retracement phase, ETH price again declined below the $1300 mark in the intraday trading session. Thus the second largest cryptocurrency is approaching the green moving line of the EMA ribbon indicator, in fact, the bulls are waiting for a retest of the support trendline to meet the retracement level.
If Ethereum price breaks below the rising trend line, buyers could see a drop of around 8.5% until it hits the previous low of $1150. Meanwhile, as of press time, the asset is trading at $1287 against USDT. Moreover, ETH price relative to the bitcoin pair is down 2.13% at 0.07278 satoshis.
Ethereum Price Chart on Daily Basis
In terms of the daily price scale, Ethereum today slipped below the 50-day exponential moving average. Now 20 EMA is the next support level for the bulls. The buyers should maintain this support level. Conversely, the RSI indicator remains above the semi-line (50 points), but its peak is about to push past this support level.
Išvada
Ethereum price is finding support after a slide below the $1300 level. In the upcoming trading session, the bulls should keep ETH price above the 20-day exponential moving average to keep itself away from another price slide.
Techniniai lygiai
Palaikymo lygis – $ 1200 ir $ 1100
Atsparumo lygis - $ 1300 ir $ 1500
Atsakomybės neigimas
Autoriaus ar bet kurių šiame straipsnyje įvardytų žmonių išsakytos pažiūros ir nuomonės yra tik informacinio pobūdžio ir nėra finansinės, investicinės ar kitos konsultacijos. Investuojant į kriptovaliutų turtą arba prekiaujant juo, kyla finansinių nuostolių rizika.
Source: https://www.thecoinrepublic.com/2022/12/15/santa-rally-traps-swing-traders-as-ethereum-faces-price-correction-phase/