Ethereum Price Another Rejection- Oh No!
It’s looking like Ethereum is trying to break through the price resistance levels, but has been met with another rejection- oh no! Perhaps, it’s time to accept that ETH price may be headed for a bearish reaction.
Were the Signs Already There?
There have been recent warnings that the ETH price may be at risk of a bearish reaction. In the past few days:
– The MACD histogram fell below its signal line
– The RSI dipped below 50
This is usually a signal that Ethereum’s price is losing momentum and may be headed for a bearish reaction.
What’s Going to Happen?
It’s hard to say, but it doesn’t look good. Ethereum is still trading above the support level at $355, but a sustained breach of that support level could push it to the next support at $330.
From there things could get even worse if it breaks to the downside of $330. This could open the door for Ethereum to reach levels as low as $235. Ugh- let’s hope that doesn’t happen.
What Can We Do?
It’s always difficult when the market starts to turn bearish, but it’s important to not panic or make irrational decisions. Fortunately, there are some things we can do to manage the risk of a bearish reaction:
- Buy on dips: If ETH price falls to the $330 support level, it might be a good time to buy more ETH.
- Do your own research: As always, it’s important to do your own research and take the time to understand the crypto markets.
- Hodl: If all else fails- hodl on to your current ETH (it’s a sad reality but sometimes all you can do is hodl).
Bottom Line
Ethereum is facing some bearish pressure and may be headed for a bearish reaction. This can be a tricky market to navigate, but with the right strategy and research, we can make sure our Ether holdings don’t head south.
Either way, it’s important to stay positive! As the saying goes, what goes down must come up. Hopefully, Ethereum will get back to its bullish ways soon enough.
