Where is the fund for Ethereum [ETH]?


Where is the fund for Ether? Is it a fund? Is it possible that the value of the second largest cryptocurrency by market capitalization can go to zero?

These are all pressing questions on investor minds while Ether continues spiraling downward. The price of Ether is now significantly lower than the point where it began to rise exponentially last year. This was a significant support area for the currency, but now with Ether trading far below, it is difficult to assess where the fund will be. The cryptocurrency of the smart contract platform has undergone large-scale downturns on a daily basis.

There is a strong reason that the currency has risen too fast last year, as investors saw the money increase from around $ 8 to a maximum of close to $ 1400. it is by far the oversold territory on the daily RSI, but this will probably have little effect given the strong sales momentum. The MACD continues to diverge downwards, which is also indicative of the downward pressure of sales.

Ether Daily Chart – Source: Tradingview.com

Every hour, we can Since the key support level has fallen around $ 270, the decline of the & # 39; Ether has strengthened. The 50EMA currently acts as a resistance, but there are not many indications for upward movements regardless. The outlook is strongly bearish and there is no clear answer to where the fund will be.

Ether Hourly Chart – Source: Tradingview.com

Key Takeaways:

  • Key support broke around $ 270.
  • The time of sale is strong
  • RSI in the oversold territory but unlikely to have an impact.
  • Moving average hours that could act as a resistance.
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