ETH Price Prediction: Bull Trap Puts Ethereum Price at 7% Downside Risk
Ethereum Price Prediction: On April 13th, the Ethereum coin price gave a bullish breakout from the crucial psychological resistance of $2000. This breached level was supposed to bolster buyers for further recovery but the broader market sell-off plunged the price back below the $2000 mark again. On April 19th, a massive outflow in ETH price formed a massive daily red candle which may have forced liquidated aggressive buyers with narrow stop loss, fueling more selling pressure in the market. advertisement Key Points: The ongoing correction phase in Ethereum price may face significant demand pressure at $1780 The daily EMAs(50, 100, and 200) may offer dynamic support to resume a bullish recovery The intraday trading volume in Ether is $11.4 Billion, indicating a 2.74% loss. Source- Tradingview Amid the increasing selling pressure in the market, the Ethereum price has witnessed a 9% drop in the last three days and plunged to the cur...