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- The prices of Ethereum fall to levels slightly above $ 120 in yet another crypto selloff.
- For the first time, 21 SMA falls below 50 SMA on the weekly range.
Many cryptocurrant traders hate words like fusion, carnage and bloodbath. It is because sometimes these terms exaggerate the situation in the market. However, the status quo in Tuesday's cryptography market deserves all these terms. I do not think they show the true image of the bloody market we have today.
Ethereum has not been able to come out of the downtrend since it traded close to $ 1,400 in January 2018. As a result, the weekly chart shows that for the first time, 21 SMA has exceeded 50 SMA. At the time of writing the price of Ethereum fell by 9.27% after slipping below $ 150. The price recorded a minimum of $ 124.25 per day but corrected over $ 130.
Indicators over a 4-hour interval show that the slope is not over and Ethereum could resume the trend towards $ 100. The MACD is moving further into negative territory from the drop below the average line started on November 10th.th. At the moment, the MCAD is at -11.42, so the RSI indicates that the ETH / USD has reached oversold levels and therefore trades below its market value. A recoil is necessary immediately before bears drag the third digital asset by market capitalization of less than $ 100.
ETH / USD 4-hour chart
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