Ethereum Is Showing Bearish Signs

A look at the activities of Ethereum in the last few days shows that the digital asset is yet to flirt with the $1,900 price region. Even though it has experienced a bearish move to decline below its previous $1,800 selling price, it is still much making a comeback. With the asset correction higher, it is likely to contact the $1,800 resistance level before going on to break above the $2,000 level. Ethereum also has its bearish kind showing a similar connection to its resistance as the digital asset has failed to touch over the $1,796 zone for the past few days.

Ethereum sees a small surge

Presently, Ethereum is on a mighty horse as the digital asset witnessed a massive leap in its price in the past few days. After moving a little above $1,400, the digital asset could clinch the $1,850 position before going on to trade under it. Presently, the asset is trading sideways at the $1796 price mark. If the asset continues to trade higher and maintains its position above both trading averages, then it would have work to do in breaking past the $2100 and $2200 resistance figure.

If the bulls are successful in their quest, then the digital asset would hope for the last surge that would power it above $2300. In the same vein, if the bears attack the market, sellers would deduce pleasure in the $1,600 and $1,500 level. If the bulls fail to defend that price level, then the asset might trade below $1,500 for the time being.

ETH/BTC comparison

With the price of Ethereum stuck in one place, the RSI is still moving in the same position. This shows that the market activities are still indecisive. Against Bitcoin, Ethereum sees a surge that has placed its support zone at 3171 Satoshi with a break out above the living averages expected to happen in the coming days.

Presently, the market is on a sideways trade, but if it sees a surge, it might encounter a new resistance at 3800 Satoshi. If the market drops, it could see a trade close to the support level of 2500 Satoshi, that is, if it trades below both moving averages. The market is expected to start afresh bearish run going by the signals in the market.

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