$ETH Testing Support – Is the Bottom In? 📉
Looking at the 1H chart for Ethereum, we are seeing some significant downward pressure.
ETH is currently trading below its key
Moving Averages:
MA(7): $1,940
MA(25): $1,954
MA(99): $2,030
The price recently touched a local low of $1,925.
While we see a bit of a bounce, the volume bars indicate that sellers are still very active.
If we can't reclaim the $1,940 level soon, we might see a further test of the $1,900 psychological support.
Strategy:
Watching for a candle close above the MA(7) for a potential scalp long, otherwise, staying cautious.
#ETH #CryptoAnalysis #Binance #Ethereum #TradingTips
ETH
2,278.96
+1.24%