Crypto Blog
Ethereum’s price has been on a gradual decline since mid-March and has yet to show any decisive sign of recovery.
Meanwhile, the cryptocurrency is currently testing the midline of the range and the key $3,000 level. With the 200-day moving average located near the $2,800 support zone, the market seems more likely to rally higher toward the $3,600 resistance zone in the coming weeks.The 4-hour chart paints a more clear picture. Ethereum’s price has been rapidly rising since yesterday, but it is currently being held by the midline of the channel and the $3,000 resistance level.
Ethereum’s price has been following a downward trajectory since its rejection from the $4,000 level. Meanwhile, analyzing the market’s supply and demand dynamics can yield important information.
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