- Ethereum could stutter around the region from $ 1,500 to $ 1,650 before continuing its descent to $ 1,275.
- Buyers have little strength at the moment, according to the Obri.
Ethereum (ETH) was always in a long -term trend. The recent price bounced above the level of $ 1,550 and the subsequent attempt by ETH to return the bullish level seems to fail.
The sale pressure on the ETH market was incessant and the bulls would probably suffer more losses soon.
The dry in the United States pushed its decision on the ETH ETF to mark out and reissue in kind until June 2025. Combined with whales of ETH unloading their treasure and the rise of AI as threat to decentralization, the feeling behind Ethereum did not seem full of hope.
Ethereum to attend short -term volatility before continuing the downward trend
Source: ETH / USDT on tradingView
On April 9, ETH saw a rebound of 20.5% from $ 1,385 to $ 1,670. During last week, the Bulls worked hard to maintain the higher price at the horizontal level of $ 1,550.
This level had been a key level of support when taking over the bear market in 2023.
Ethereum was likely to fall below this level. Its price trend has been lower since January, characterized by a series of lower ups and lower stockings. The most recent more recent was $ 1,957, taking place in early April.
Bulls must generate prices above this level to return the structure of the downward market in an optimistic way. But such a decision seems very unlikely to soon.
The Obro was in a regular drop -down trend along the price, showing persistent sales pressure. The RSI was below the neutral 50 to indicate that the bearish momentum was dominant.
Source: Coringlass
The liquidation card has shown that the lower liquidation levels at the price were both closer and larger than those above. This suggests that ETH is likely to fall to these short -term magnetic areas.
High -level liquidation levels between $ 1,515 and $ 1,575 create downward pressure, pulling ETH to these points.
Once the liquidity at these levels has been absorbed, a potential rebound to $ 1,650 at $ 1,700 could follow.
Notice of non-responsibility: The information presented does not constitute financial investments, exchanges or other types of advice and is only the opinion of the writer
