What's the bears' favorite color? Exactly, especially after 8,6% inflation news.
) below the critical support at $1,700. If the price sustains below this support, the pair could resume its downtrend.The ETH/USDT pair could first decline to $1,500 and if this level also gives way, the next stop could be the vital support at $1,300. The bulls are expected to defend this level with all their might.
Contrary to this assumption, if bears fail to sustain the price below $1,700, it will suggest accumulation at lower levels. The first sign of strength will be a break and close above the 20-day EMA. That could open the doors for a possible rally to $2,159. The indicators are giving a mixed signal because the downsloping moving averages favor the sellers but the positive divergence on the RSI suggests that a relief rally may be around the corner.has been trading below the support line of the symmetrical triangle for the past three days but the bears have not been able to build upon the breakdown. This suggests that selling dries up at lower levels.The buyers will try to push the price back into the triangle.
Contrary to this assumption, if the price continues lower from the current level and plummets below $273, it will increase the possibility of a break below the critical support of $260. The pair could then start a decline toward the vital support of $211.
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