After the $636 yearly high and the fall below $600, the 100 hourly moving average, the downside correction shows that ETH fall could continue if ETH doesn’t stay above $570.
Major Signals
- ETH hits its yearly high by trading at $636 before it got corrected lower.
- There are bearish signs, and ETH could trade below $570.
- Key resistance if forming near the $590 mark
Ethereum witnessed a decent 4% increase above $600. The altcoin only failed to gain more strength after the previous high. The previous high saw ETH break the $600 support level and transitioned into a short time bearish zone, but the price is currently going down and now forms a low near $574.
