Ethereum went through weeks of bearishness after which the king of altcoins pushed above the $1000 mark. Over the last 24 hours, it soared close to 9% but in the past week, the coin registered a double-digit loss of 22%.
The coin even moved below the $900 mark but as buying strength slowly recovered, ETH moved upwards on the chart. It cannot be said for certain if Ethereum will continue to move northwards because technical outlook still remains quite dicey.
Bears are still in control of the market and if the coin fall from the $100 mark, the next trading zone lies between $700-$900. Buyers could then enter the market again and reclaim the price of the asset. Buyers can again enter the market if ETH plunges to the aforementioned trading zone. ETH has been completely bearish for over ten weeks now.
Ethereum Price Analysis: Four Hour Chart
Ethereum was trading at $1090 on the one day chart | Source: ETHUSD on TradingView
ETH rose on its chart after touching the lows of $900 at the time ..
Support the originator by clicking the read the rest link below.
