{"id":502932,"date":"2022-09-21T04:00:46","date_gmt":"2022-09-21T04:00:46","guid":{"rendered":"https:\/\/wncen.com\/?p=502932"},"modified":"2022-09-20T19:36:49","modified_gmt":"2022-09-20T19:36:49","slug":"ethereum-price-still-on-the-decline-can-buyers-defend-this-price-level","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-still-on-the-decline-can-buyers-defend-this-price-level\/","title":{"rendered":"Ethereum Price Still On The Decline, Can Buyers Defend This Price Level?"},"content":{"rendered":"
Ethereum price tried to rise on its daily chart at the time of writing. Over the last 24 hours, ETH rose by 2%, price action continues to be mundane.<\/p>\n
In the last week, the Ethereum price fell by 21%. Technical indicators pointed towards continued bearishness.<\/p>\n
Buying strength declined substantially, which has pushed the price of Ethereum closer to its immediate support line.<\/p>\n
If buyers do not defend the closest support line, then Ethereum could head for a further decline on its one day chart.<\/p>\n
For the bearish thesis to be invalidated, ETH has to hop past several resistances. Selling dominance can further push the altcoin down.<\/p>\n
With the price of major market mover Bitcoin declining on its respective chart, most altcoins have followed suit.<\/p>\n
ETH has to move past the $2000 price level for the bearish thesis to be invalidated. ETH bulls are required to defend $1,200 price zone or else ETH could free fall to the $1,000 price level.<\/p>\n