{"id":145892,"date":"2021-11-26T13:28:08","date_gmt":"2021-11-26T13:28:08","guid":{"rendered":"https:\/\/precoinnews.com\/?p=145892"},"modified":"2021-11-26T13:28:08","modified_gmt":"2021-11-26T13:28:08","slug":"ethereum-is-in-a-sideways-move-makes-a-sharp-fall-to-4000-support","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ethereum-is-in-a-sideways-move-makes-a-sharp-fall-to-4000-support\/","title":{"rendered":"Ethereum is in a Sideways Move, Makes a Sharp Fall to $4,000 Support"},"content":{"rendered":"
Ethereum (ETH) is in a downtrend today after being rejected at the $4,600 resistance zone. Yesterday, buyers tried to break above the 21-day moving average line but were rejected.<\/strong><\/p>\n If the price breaks above the moving averages, it would be a sign of resumption of the uptrend. Also, the largest altcoin could rise to a high of $4,800. However, if Ether falls, it will find support above the 50-day moving average. Since November 22, ETH\/USD has been fluctuating between the 50-day line and the 21-day moving averages. The altcoin will move when these moving averages are broken.<\/p>\n Ether is at level 48 of the Relative Strength Index for period 14. The cryptocurrency is still in a downward correction and below the midline 50. The price of the cryptocurrency is between the moving averages, which indicates a possible sideways movement. The altcoin is in bearish momentum as it is below the 50% area of the daily stochastic.<\/p>\n <\/p>\n Major Resistance Levels – $4,500 and $5,000 <\/b><\/p>\n <\/b><\/p>\n Major Support Levels – $3,500 and $3,000<\/b><\/p>\n On the 4-hour chart, Ethereum is in a sideways movement and the price is fluctuating between $4,050 and $4,500. For example, ETH buyers drove the price to the high of $4,500. The altcoin was pushed back at resistance as the market fell back to the lower price range. This is the price action since November 17.<\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their research before investing funds.<\/span><\/i><\/p>\nEthereum indicator analysis<\/h2>\n
Technical indicators: <\/h3>\n
What is the next direction for Ethereum?<\/h2>\n