이더리움이 이 수준 아래로 떨어지면 $1,700까지 하락할 수 있습니다.

Ethereum (ETH), the second-largest crypto by market cap, has been on a downward trend since July 14. It should be noted that ETH has constantly seen higher highs and higher lows throughout this year. However, that trend was recently broken when the XRP-ruling rally did not take the coin over its previous high of $2120, attained on 16 April. ETH went a little over the $2k level before dwindling back down.

시가총액 기준으로 두 번째로 큰 암호화폐인 이더리움(ETH)은 7월 14일 이후 하락세를 보이고 있습니다. ETH는 올해 내내 지속적으로 최고점과 최저점을 기록했다는 점에 유의해야 합니다. 그러나 이러한 추세는 최근 XRP 지배 랠리가 4월 16일에 달성된 이전 최고치인 2120달러를 넘어서지 못하면서 깨졌습니다. ETH는 $2,000 수준을 약간 넘어섰다가 다시 하락했습니다.

However, the lower high is not the only bearish pattern around Ethereum (ETH). The asset has also broken an ascending channel and it is not showing any signs of recovery. ETH is currently facing resistance at around $1910, with support at around $1833.

On the other hand, ETH’s price seems to be consolidating at the moment, albeit after registering a lower high, which again points to a bearish development. RSI (relative strength index) currently stands at 42.74, further confirming the consolidation.

반면에, ETH의 가격은 더 낮은 최고점을 기록한 후에도 현재 통합되고 있는 것으로 보이며 이는 다시 약세 전개를 나타냅니다. RSI(상대강도지수)는 현재 42.74로 강세를 더욱 확증해 주고 있습니다.

Also Read: Ethereum: These ETH Futures ETFs Are Awaiting Approval

ETH’s current slump could be attributed to larger macroeconomic developments. The U.S. Federal Reserve recently raised interest rates by 25 basis points. Additionally, the U.S. private sector jobs data registered more jobs than anticipated. The job data could give a reason to the Fed to increase interest rates again later this year, adding to investor caution.

ETH의 현재 부진은 더 큰 거시 경제 발전에 기인할 수 있습니다. 미국 연방준비제도(Fed)는 최근 금리를 25bp 인상했다. 또한 미국 민간 부문 일자리 데이터에는 예상보다 많은 일자리가 등록되었습니다. 고용 데이터는 연준이 올해 말에 다시 금리를 인상할 이유를 제시해 투자자들의 주의를 끌 수 있습니다.

How far could Ethereum fall?

Looking at ETH’s Fibonacci retracement level, the asset’s price could fall to around $1800. ETH’s price has already touched the 0.5 fib level, hence we could see a trend reversal soon. However, given that there are more bearish signs than bullish ones, this might not come to fruition.

Also Read: Shiba Inu More Popular Than Ethereum, Dogecoin in the U.S.

If ETH falls below $1786, the asset’s price faces a risk of falling to its previous support of $1720. At press time, Ethereum (ETH) was trading at $1,835.97, down by 1.1% in the last 24 hours.

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