ETH prices are consolidating at $1940 as a resistance level.If negative emotions persist, the king of counterfeit coins may fall to $1790
- ETH prices are consolidating at $1940 as a resistance level.
- If negative emotions persist, the king of counterfeit coins may fall to $1790.
- As the Federal Reserve meeting approaches, Bitcoin and counterfeit coins are facing selling pressure.
We have warned that the King of Cryptocurrency may fall to $29700 in the next few hours. This is expected. As of the time of writing, the buyer price for BTC is $29790. The current price of Kingcrypto is $29790, because the Cryptocurrency failed to break through $30400, and the bearish Selling climax may further intensify. So what are ETH and other currencies waiting for? The following is detailed information.
Ethereum Comments
Ethereum price on July 14Set a new year high. However, it quickly fell, risking the entire upward trend before. The current trading of ETH prices is below the key convergence point of resistance level, and the reaction to it may determine the direction of future trends. Considering the recent downward trend of Bitcoin
On June 21, the price of Ethereum broke through the downward resistance line. Subsequently, it hit the local high of $2029 on July 14th. It seems that this high point led to a breakthrough in the resistance zone of $1940. This is a very important resistance, as it is both a horizontal resistance region and a 0.618Fib pullback resistance level. Therefore, due to breaking through the line and resistance zone, the ETH price seems to have started a reversal of the upward trend and pushed it to a new high. However, ETH quickly fell below the $1.94 range, invalidating previous breakthroughs.
ETH and counterfeit coin reviews
Just counterfeit coinsFor Wang, $1940 is expected to consolidate its resistance level. The technical analysis of the shorter six hour time frame also failed to provide a clear direction. Wave numbers show that ETH prices completed five waves of increase between June 15th and July 3rd. Afterwards, prices fluctuated within the ABC structure.
However, it is currently unclear whether the callback has been completed, orETHWill the price drop again. So far, the ratio of A: C waves is exactly 1:1. This indicates that the repair has been completed. However, if the price falls, ETH may fall to $1790.
The upcoming Federal Reserve meeting has intensifiedNegative sentiment about Cryptocurrency.Despite the latest positive data and the high possibility of interest rate hikes, market sentiment has not changed. Then we can see this decline until next Wednesday evening.
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