TA- Ethereum ETH Shows Bearish Signs, Eyes $1,700 As Nearest Support

The price of Ethereum (ETH) has struggled to hold above $2,000 against Tether (USDT) after being rejected from that region. Ethereum price in the past few weeks outperformed the price of Bitcoin (BTC) but has shown bearish signs indicating the ETH price could be set to retest the nearest support. Related Reading: TA: Ethereum Could Take Hit As The Bulls Show Weak Hands Ethereum (ETH) Price Analysis On The Weekly Chart From the chart, the price of ETH saw a weekly low of $1,700, which bounced from that area and rallied to a price of $2,030 after showing great recovery signs in recent weeks. Ethereum’s weekly candle closed with a bullish sentiment, with the new week’s candle looking bearish for the price of ETH as it continued to decline in price to a region of $1,850 after facing rejection from the $2,020 mark. The price has struggled to build more momentum as it tries to hold key support. If the price of ETH on the weekly chart continues with this structure, it could quickly revisit $1,700, acting as a support for the price of ETH. Weekly resistance for the price of ETH – $2,000. Weekly support for the price of ETH – $1,700. Price Analysis Of ETH On The Daily (1D) Chart The price of ETH found strong support at $1,770 above a ranging channel after a successful breakout, with what seems to be an area of interest on the daily chart. ETH bounced from its support and rallied to $2,030, where it was faced with resi...