Can the rate of ETH remain above $1,900 until the end of the week? crypto Ethereum ETH $ETH cryptoexchange VitalikButerin ethereum
Despite the fall, the price of Ethereum has made a false breakout of the local support level at $1,896. If the daily closure happens far from the $1,900 mark, a bounce back may continue to the $1,920-$1,930 zone tomorrow.
On the bigger time frame, the situation remains bearish as the bar is about to close below yesterday's low at $1,913.60. In this case, there is a high possibility of seeing a further decline to the next important support level at $1,846. Such a scenario is relevant until the end of the week. From the midterm point of view, the rate of Ethereum has returned to the middle of a wide channel. The price is located below the crucial $2,000 mark, which means that sellers have seized the initiative.
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