Binance at lightning speed – This is today’s news: Binance just joined the Lightning Network from Bitcoin to its platform. The Lightning Network makes it possible to make transactions quickly and at a lower cost. For his part, the ethereum price is much less electrifying. In fact, the course does not manage to stay above 2,000 dollars. A new week begins, can the sellers continue to pressure the price?
Ethereum price drops more than 1% in 24 hours
Ethereum starts the week in the red. Indeed, the price of Ethereum fall of more than 1% in 24 hours :
In one week, the price of Ethereum shows a increase of more than 2%. In one month, the second capitalization of cryptocurrencies is in increase of nearly 10%. Against Bitcoin, Ethereum displays a 2.3% increase in one weekbut a 3.5% drop in one month. Is Ethereum regaining strength against Bitcoin? If that is the case, altcoins could benefit.
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Ethereum price remains stuck below resistance at $2,000
Last week, Ethereum attempted to break the resistance at $2,000. The sellers have shown up, and the price remains stuck below this weekly resistance :
The course evolves between the institutional bias (EMA 9/EMA 18) bullishand the resistance at $2,000. You will have to resume the level at $2,000 as a support to hope to review the course at the level of the resistance at $2,400. In case of rejection, the course could join the bullish trendline which is currently at the support at 1,750 dollars. As long as this trendline holds, the price can maintain a uptrend.
The RSI evolves at the level of the bullish trendline. A rebound must occur quickly to avoid leaving the momentum to the sellers.
Ethereum price slips below support at $1,920
Ethereum is slipping dangerously under the support at $1,920 :
If the buyers do not show up soon, the price could join the next support located at $1,850. On the other hand, if the price resumes the level of support at $1,920he could again join the resistance at $2,000. A closing in 4 hours beyond the last high at $2,030 could allow the course to join the next resistance at $2,100. For its part, the RSI is back at the level of the bearish trendlinea rebound could occur to allow buyers to maintain the momentum short term.
The course ofEthereum remains stuck below the weekly resistance at $2,000. If the buyers do not show up soon, the price could quickly return to the level of the weekly support at $1,750. In 4H time frame, the price is slipping below the support at $1,920. Buyers need to react to avoid another wave of declines that could take the price back to $1,850.
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