Ethereum Price Prediction: A Potential Bull Trap Could Cause a 7% Drop
ETH Price Prediction: The price of Ethereum dropped for a fourth day in a row and broke through the $1680 support. A phoney breakout scenario undercutting the range breakout of April 4th is indicated by the buyer's inability to maintain above the previously recaptured support. The breakout traders may be compelled to liquidate for a short stop loss if the supply pressure continues, which will exacerbate selling and lead to a prolonged fall.
Key Ideas
Ethereum's price could drop to $1700 if there is a bearish breakdown from $1680.
Buyers may be helped by the increasing daily EMAs (20, 50, 100, and 200) to maintain an overall uptrend.
Ether's $5.7 billion intraday trading volume is an 11% increase.
ETH Price PredictionSource- Tradingview
from Tux Current News https://ift.tt/KwAMg4o 09, 2023 at 09:04PM
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