Ethereum [ETH] got off to a great start this year, working to regain the positions it had lost over the previous few months.
Recent price movements, however, have stopped the increasing trend that started back in January. Most investors have responded this way despite the recent swings between highs and lows.Read Ethereum (ETH) Price Prediction 2023-24 In the previous three days, Ethereum (ETH) has decreased by around 6%, according to a daily timeframe analysis.
Its price was roughly $1,560 as of the time of writing. Its price movement has fallen below the short Moving Average (yellow line) due to its over 4% value decline on 3 March.
The long Moving Average (blue line), which also served as support, was recognized at about $1,513 and $1,448. Also, the resistance was discovered in the $1,600 to $1,700 price range.Source: TradingView In addition, the recent decrease has turned Ethereum’s (ETH) trend from bull to bear.Read more on ambcrypto.com