- ETH will go bearish until the $2500 mark according to technical analyst.
- The second-largest crypto shows bearish movement without signs of stopping.
- On the other hand, crypto poll shows that investors think the bull market is not over.
The second-largest cryptocurrency, Ethereum (ETH) has lost a lot of its value from the recent all-time high price at $4,387. At the moment, ETH is valued just below the $3000 mark according to coin information websites like coinmarketcap.com.
According to Coingape analyst John Isige, Ethereum might go as low as $2500. He mentioned that many technical indicators such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) show very obvious bearish signals, as highlighted on the four-hour chart that you can see below.
Isige adds that ETH may find support in the $2800 to $2500 level. On the other hand, if the coin goes bullish again, it may find resistance at the $3200 and $3600 levels.
In other news, a crypto poll shows that the crypto bull run is not over yet. Investors believe that the market is still going to go bullish in the coming days. At the time of writing, 55% of the 19,343 participants say that the bull run is not over and that it’s just a correction.