Crypto Blog
After being forcefully rejected from the 100-day moving average, Ethereum experienced a rapid decline, finding support at the critical level of the 61.8% Fibonacci retracement.
Examining the daily chart, Ethereum’s trajectory turned highly bearish after the rejection from the 100-day moving average at around $1.7K. It completed a pullback and validated the breakout, ultimately landing at the 61.8% Fibonacci threshold, where it found support. However, given Ethereum’s overall bearish prospects and the current rebound lacking significant bullish momentum, a true bullish reversal would require a notable increase in buying pressure, leading to buyer dominance in the market. If buyers manage to overpower sellers, a sudden reversal could occur, potentially leading to the liquidation of numerous short positions.
The chart depicts the taker buy-sell ratio, a crucial metric for evaluating sentiment in the futures market as it gauges whether buyers or sellers are executing more aggressive market orders.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This Disney Quiz Will Give You The Last Line And You Have To Guess The Film'Soon all will tremble before me'
Read more »
Texas Rangers vs Houston Astros Line MovementTexas Rangers vs Houston Astros
Read more »
Tampa Bay Lightning vs Ottawa Senators Line MovementTampa Bay Lightning vs Ottawa Senators
Read more »
Carolina Hurricanes vs Anaheim Ducks Line MovementCarolina Hurricanes vs Anaheim Ducks
Read more »
Latest line: A good week for YIMBYs, a bad week for election officialsNewsom signs bills to ease housing construction, while registrars see big turnover.
Read more »
River Line weekday trains return as NJ Transit, contractor iron out problemsWeekday service on NJ Transit's River Line returns to a regular schedule Monday, however a 2020 project to rebuild engines on the 20 light rail trains has made little progress over the past three years.
Read more »