Ethereum [ETH] Price Analysis – Ethereum Approaches Liquidity Area After Bearish Week

2019-1-14 18:58

Ethereum Daily Chart – Source: Tradingview.com

After an extremely bullish start to 2019 for Ethereum, there was a swift return to underperformance for the cryptocurrency last week.

Last weeks underperformance resulted in Ethereum dropping to the position of third largest cryptocurrency by market cap with Ripple’s XRP overtaking it for the second position.

The bearish movements last week resulted in Ethereum dropping below two key levels where some support may have been expected to come into play.

It first dropped below $140 which was an important area in recent price action and provided resistance while Ethereum underwent its late December to early January outperformance.

Price action continued to drop below $128 which was an important area of consolidation during bearish drops in mid-November.

Price action is currently holding above $114.

This point represents the low of the last week of price action trading in December.

Price managed to hold above this point during the bearish movements recorded yesterday.

Ethereum 4- Chart – Source: Tradingview.com

If the price does drop below $114, buyer liquidity will be expected to come into play between $100 and $107.

This has been an important area of liquidity in the past with price either quickly reversing upon entering the territory or price action quickly going through it.

Key Takeaways: Bearish price action in Ethereum last week resulted in it dropping below two key levels – $140 and $128. Ethereum is currently meeting support at $114. If Ethereum drops below $114, buyer liquidity expected at $100 to $107. Latest Ethereum News:

Bullish Divergence for Ethereum [ETH] to Precede Price Increase?

ConsenSys Explains the Ethereum [ETH] Block Reward Reduction Coming With Constantinople Hard Fork

DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Ethereum [ETH] Price Analysis – Ethereum Approaches Liquidity Area After Bearish Week was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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ethereum week bearish cryptocurrency position underperformance resulted

Источник: blokt.com

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