$ETH price analysis.....๐๐๐
Etherย
$3,113
ย fell below the $2,850 support on May 1, but the long tail on the candlestick shows solid demand at lower levels. #ETH/USDT daily chart.
The downsloping moving averages and the RSI below 45 show that the bears have a slight edge. If the price turns down from the current level or the 20-day EMA ($3,152), the bears will try to yank the ETH/USDT pair to the support line of the descending channel pattern.
Contrarily, if the price rises above the 20-day EMA, it will suggest that the selling pressure could be reducing. The bulls will have thrust the pair above the resistance line to indicate the end of the downtrend.
