Ah, the weekend! A time for relaxation, contemplation, and, apparently, for sellers to take the reins of the cryptocurrency market, as per the ever-reliable CoinMarketCap. 🕶️
ETH/USD
In a twist that would make even the most seasoned trader raise an eyebrow, the price of Ethereum (ETH) has decided to take a 1.40% nosedive over the last 24 hours. 📉
On the hourly chart, ETH seems to have found a cozy little support level at $1,833. With most of the ATR (Average True Range, for the uninitiated) already in the rearview mirror, traders can likely expect a day free from any dramatic price swings. 🎭
However, should the bar close near this mark, brace yourselves for a potential test of the $1,800 zone tomorrow. 🚨
Zooming out to the bigger time frame, there’s nary a reversal signal in sight. If the candle closes near the $1,810 support, the accumulated energy might just be enough to send ETH tumbling into the $1,600-$1,700 range. 🏞️
From a midterm perspective, buyers have, alas, failed to keep the momentum going after the previous bullish bar closure. If the situation remains unchanged by week’s end, we might just see a test of the $1,463 support sooner rather than later. 🕰️
At the time of writing, Ethereum is trading at $1,855. 🕵️♂️
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2025-03-29 18:00