Ethereum Price Forecast – Dramatic Selling in Ethereum, Buy Limit in Place!

This marked a big achievement for the crypto popularity, especially Ethereum, as the firm was looking for developers with experience writing smart contracts, implementing business applications, and verifying cryptographic protocols on the blockchain. Ethereum prices rallied and reached a new ATH level near $2600 on Thursday, making Bitcoin lose market dominance for the first time since 2018. The dominance of Bitcoin fell below 50% on Thursday amid the recent spike in the second-largest cryptocurrency in the world.

Support Resistance
2300.75 2420.06
2244.22 2482.84
2181.44 2539.37
Pivot Point: 2363.53

The ETH/USD pair trades dramatically bearish at 2,195 level, having dropped from 2,647 level to 2,192 level. On the lower side, ETH/USD may find immediate support at 2,072 level along with a resistance level of 2,294. The pair has recently formed three black crows pattern on the 4-hour timeframe that’s suggesting odds of bearish trend continuation. The MACD is crossing below 0, exhibiting a bearish crossover that indicates a strong bearish bias among traders. Whereas the RSI also holds in the selling zone today. Ethereum is likely to continue its selling trend until the 2,072 level before taking a bullish reversal. Good luck!