#EthereumPriceOutlook 🌟
Ethereum is exchanging hands close to $1, 947 which is 4% less compared to 24 hours ago and 35% lower however the Binance Taker Buy/Sell Ratio is pointing at a possible change as it is rising towards neutral after weeks of seller pressure.
Support: $1, 850, $1, 880 Resistance: $2, 000, $2, 120, $2, 200 #TechnicalAnalysis
The pattern is bearish as there have only been lower highs and lows since the breakdown from the $3, 000, $3, 200 range. Bollinger Bands are contracting, signaling that volatility is slowing down. RSI is hanging around 40, which is a sign of slight momentum improvement.
The weekly ratio is almost at 1.0 but there have been daily spikes above 1.12 which is a sign of aggressive buying bursts. If it keeps being above 1, then buyers would likely take over and this may be the foundation for price stabilization.
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