Ethereum Price Analysis: ETH Price Extends Losses Below $2,000; What holds Next?

– ETH price sinks extending the previous sessions losses. The price follows the footstep of the BTC, which fell more than 4% amid the panic selling in the crypto space.

– As the price proceeds toward the crucial 200-EMA on the weekly chart frame, the investors refrain from discount buying opportunities.

– On the daily chart, the selling pressure was structured amid market participants, which leads to heavy profit-booking, and a correction in the ETH price since April 3.

– On the weekly chart, a break below the 200-day EMA (Exponential Moving Average) at $1,624.47 would result in further depreciation in the price towards March 2021 lows near $1,400.

– On the flip side, a spike in the buy orders might result in a relief rally for the bulls. A move toward the sessions high could mean a recovery back to $2,400.

 

 

Ethereum movies Ethereum Price Analysis: ETH Price Extends Losses Below $2,000; What holds Next?
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