Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) moved slightly higher on Wednesday, with the price approaching the $1,600 area.
ETH/USD reached a peak of $1,598.52 on the first day, which comes after falling to a low of $1,569.04 the day before.
Like bitcoin, ETH bulls were unable to push the price above resistance, with earlier momentum waning as of writing.
From the charts, it appears that there has been a change in sentiment as the RSI was unable to overcome its own high at 58.00.
Currently, the index is tracking at 57.64, with the 10-day (red) moving average also changing its trend, and is now on the downside.
Should this sentiment continue, there is a high probability that ETH will drop to a low of $1,550.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
CHART ANALYSIS:-Ethereum (ETH) moved slightly higher on Wednesday, with the price approaching the $1,600 area.
ETH/USD reached a peak of $1,598.52 on the first day, which comes after falling to a low of $1,569.04 the day before.
Like bitcoin, ETH bulls were unable to push the price above resistance, with earlier momentum waning as of writing.
From the charts, it appears that there has been a change in sentiment as the RSI was unable to overcome its own high at 58.00.
Currently, the index is tracking at 57.64, with the 10-day (red) moving average also changing its trend, and is now on the downside.
Should this sentiment continue, there is a high probability that ETH will drop to a low of $1,550.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
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