Ether turns down along with Bitcoin! Still Longing 4 $2200
ETHUSDT
Ether has been on an uptrend, however, it is facing resistance at a critical overhead level of
2
,200, indicating that some short-term traders may be taking profits after the strong rally in recent days. There is a possibility that the ETH/USDT pair could decline to the psychological support at
2
,000 and then to the 20-day EMA (
1
,930). During pullbacks in an uptrend, buyers typically try to defend the 20-day EMA. If the price rebounds from the 20-day EMA, it will indicate that buyers are interested in lower levels, which could increase the chances of breaking above
2
,200. If this level is breached, the pair may surge towards
3
,000. On the other hand, if the price falls below the 20-day EMA, it will signal that the bulls are quickly exiting their positions. The pair may then drop to
1
,680 and subsequently to the 200-day SMA (
1
,482). Let me know what you think!
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