An analyst expects a “1,200-1,300” dollar area as a possible opportunity to purchase “Ethereum”

Ethereum coin faces increasing pressure after weeks of continuous decline and weak performance, and since the beginning of the public, buyers have been able to restore control, which led to the continued bleeding of value amid a state of fear and uncertainty, and with the absence of any clear signals of the direction, the market may witness more declines during the coming period, which increases the suffering of investors who maintain long -term centers.

Ethereum under pressure with the collapse of the main levels

Ethereum continues to lose important support levels as a result of the continuous selling pressure, and after briefly recovered $ 2,000, it fell again without it, which strengthened the declining direction and forced buyers to decline, and the attempts to recover repeatedly fail the weakest confidence Alternative and decentralized financing fields that are largely dependent on the stability of this currency.

1,200-1,300 dollar area may be a potential purchase area

The famous analyst “Big Chaids” indicated that the ethereum is currently trading at $ 1,840, which is a significant decrease compared to its previous level at 3,400 dollars, and this continuous decline confirms the current declining direction, as the currency moves towards low demand areas that may provide limited support, and if the descending wave continues, the region may be between 1,200 and 1,300 dollars, a point of attraction for buyers where a base has already been formed Strong during the previous sessions.

The main resistance levels are still far from the reach of Ethereum

Ethereum tries to restore its strength, but it is still trading at $ 1,840 without the ability to overcome the main moving averages, and its failure to overcome the simple moving average 200 and the Si -moving average near 2,100 dollars indicates the continued dominance of sellers on the market, and as long as the currency remains under these levels, the chances of recovery remain weak, as buyers need to break these barriers to restore control On the general direction.

If Ethereum is able to exceed the level of $ 2,000 and then $ 2,100 with a strong trading volume, this may be an indication of the start of a recovery stage, but until this scenario is achieved, the market remains vulnerable to further decline, which makes investors in a state of anticipation and anxiety about the next direction.