Ethereum price continue it's decline

١٠ مايو

Hi everyone,

Ethereum price continue to consolidate within 3000 - 2800 support area but lately it looks like there will be breakout below 2800 and towards to 2400 support level.

If we look at the chart, we can clearly see lower lows and lower highs which says that ETH price isn't ready for a rise. More likely scenario is that price will contunue to decline towards 2400 support level or even 2140. But first Ethereum price should break 2800 support and hold below that level.

Ethereum price depends on Bitcoin price which also isn't showing any signgs of recovery and tending for continuation of downtrend. In this market condition there is not many chances for Ethereum to start rising unless Bitcoin start rising again.

In any case, Ethereum price gives good opportunity to buy using DCA strategy.

Please, do not forget to boost this idea & share it with your friends; thanks.