Danger for Ethereum: the price of ETH falls below 1,400 dollars

More bad news in the crypto market – Following the announcement of the liquidation of Silvergate Bank, Kucoin is being sued by the State of New York for failing to register. After a few weeks of respite, cryptocurrencies are once again experiencing a dark period. Bitcoin drops below $20,000 And Ether below $1,400. The fall of Bitcoin continues to weigh on Ether and altcoins. Can Ethereum rebound in the short term? What are the key levels to remember? Let’s look at the clues left by the graphs!

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Ethereum drops below $1,400

Ethereum Three-Day Analysis: Latest Low at $1,460 Breaking

There last week, we had mentioned the fact that the course was framed between two levels. To continue on the dynamic, it was therefore necessary to maintain the last low at 1,460 dollars. A week later, the course ofEthereum (ETH) has fallen below this important technical level.

There resistance at $1,685 held, and the course then fall close to 20%. A closure like this would allow sellers to regain control. For now, the institutional bias (EMA 9/EMA 18) remains bullish. However, if buyers do not react quickly, the institutional bias could turn bearish and act as a resistance. THE next level of strong support it is located at $1,250. It is also the neck line of the last “W” marked and which allowed a return to 1 $700.

As long as the price remains stuck below the bearish trendline and that it does not close above the last high at $2,030, the trend will not be bullish on a weekly basis. This is what we would like to see to become optimistic on Ethereum again on a weekly basis.

THE ROI launch a bearish signal which remains to be confirmed. After marking a bearish divergence closing below 56, it looks like the bullish trendline is breaking. The confirmation will be on March 11, when the 3-day candle closes. If the trendline gives way, the upward momentum on the RSI initiated in July will be called into question.

In the short term, ETH is on support at $1,400

It was necessary to hold the support at $1,515, but the sellers made the buyers give in. The level at $1,515 will now resistance and the course is feedback the level of support at 1,400 dollars.

The course was rejected at the level of the bearish institutional bias. Here, a rebound remains possible, but the area at $1,515 will provide resistance. It will be necessary to find a dynamic with troughs and ascending peaks to find colors on this asset. On the other hand, if the buyers do not show themselves, the price could fall towards the next supports located at 1,325, 1,240 And $1,175.

THE ROI East bearish. It continues with troughs and descending peaks. Also, the bearish trendline rejects the RSI. It will be necessary to break this bearish trendline to regain buying strength.

Ethereum against Bitcoin: still no decision from the operators

Concretely, the price of the pair is in a tidy between 0.06 and 0.08 BTC. For several months, the pair has formed a tighter range between the upper limit of the range and the intermediate support of the range.

The price always has the possibility of returning to the level of the resistance at 0.08 BTC. For this, the objective remains the same, a close in 3 days above 0.0725 BTC. For now, volatility drops on this pair and the course contracts. The two important levels to monitor are:

• 0.0794 BTC : a close above would relaunch the momentum on a weekly basis. If the price breaks out of the range from the top, the altcoins could benefit;
• 0.0655 BTC : a close below this level would sign the break of the intermediate support of the range and a change of momentum. Sellers would therefore have their hands on this pair, and altcoins could suffer.

Momentum remains strong. THE ROI continues to evolve above the bearish trendline. It would take a close above 50 to relaunch momentum with bottoms and rising tops.

Bitcoin dominance falls

Amazing Fact: As Bitcoin falls, Bitcoin dominance also falls.

Despite the fall on Bitcoin dominance, the price is still stuck between 43 and 44.5%. The close above or below these levels could set the direction for the coming weeks. Indeed, a fence below 43% would indicate that capital is flowing to altcoins. In view of the market situation, this seems compromised. THE market is actually very fragile. And even if altcoins hold up, it might not last.

The price could mark a double bottom and close above 44.5%, then 44.8%. In this scenario, Bitcoin would continue to attract capital and altcoins could suffer.

THE ROI is breaking the bullish trendline. If the signal is confirmed, this will mark a first bearish signal concerning the dynamic initiated in September 2022.

Altcoin capitalization back to $500 billion

The course has fall close to 20% within a few weeks. Currently, it is at the level of the bearish trendline.

The trend initiated at the end of 2022 takes a hit with this probable close below the last low at $525 billion. However, the price could rely on the support zone with the presence of the bearish trendline. Also, the course is close to the neckline of the double bottom marked at $495 billion.

RSI fails at the key area at 57. Indeed, after a brief passage above this key zone, the RSI hangs at 67 and fall again. However, the RSI retains for the moment the upward trendline installed since June 2022. Thus, a rebound could occur at this level in the days to come.

In the end, theEther failed at the resistance at $1,680. It might even close below the last low marked at $1,460. If so, a move back to the neck line at $1,350 remains possible. In a 4-hour time unit, the price is on a support area at $1,400. Buyers need to show up then, otherwise the next level of support will be found at $1,325. There ETH/BTC pair is in theindecision. Buyers and sellers have been neutralizing each other for several months now. There capitalization of the altcoins is back to 500 billion dollars. The price is close to a support level. If Bitcoin continues to fall, altcoins could follow.

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