Ethereum Price Prediction: Thin Volumes Increase Risk of a Drop Below $1.8K
Ethereum Price Prediction: Thin Volumes Increase Risk of a Drop Below $1.8K
We may see the token rising to $2,000 even during this rally, but we don't see a sustainable uptrend ahead as sentiment remains heavily depressed, the macroeconomic backdrop is still unfavorable and relatively uncertain, and volumes are too thin.
The Relative Strength Index (RSI) is still bullish as it is still sitting above 50. However, positive momentum seems to have weakened as the oscillator just dropped below the signal line.
If ETH drops below the signal line and loses the $1,800 support, that may result in the beginning of a downtrend that could push it back to the $1,550 area, meaning a 14% downside risk.
This article has been published in fxempire.com via Yahoo News.
Ethereum Price Prediction: Thin Volumes Increase Risk of a Drop Below $1.8K
Ethereum is struggling to sustain its rally above the $1,800 support level as thin trading volumes and fading momentum suggest the current price action may be another short-lived recovery.
finance.yahoo.com
