{"id":138476,"date":"2023-05-03T10:26:03","date_gmt":"2023-05-03T10:26:03","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=138476"},"modified":"2023-05-03T10:28:07","modified_gmt":"2023-05-03T10:28:07","slug":"ethereum-ranging-after-breaking-lower-primary-support-lies-at-1800","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/ethereum-ranging-after-breaking-lower-primary-support-lies-at-1800\/","title":{"rendered":"Ethereum (ETH) Ranging After Breaking Lower, Primary Support Lies at $1,800"},"content":{"rendered":"

Ethereum (ETH)<\/a> prices are lower but remain inside a bear range with visible caps at $1,950 and $1,800. <\/strong><\/p>\n

The trend is bearish in the immediate term but bullish from a top-down preview<\/strong>. Presently, traders can wait for a clean breakout above $1,950 or $1,800 before committing as a new trend emerges or sellers from mid-April continue pressing on.<\/p>\n

Technically, the uptrend remains, but whether ETH will reclaim $2,100 in the medium term remains to be seen and highly depends on how prices pan out in the short term<\/strong>.<\/p>\n

The sideways movement of ETH prices coincides with positive news that the last upgrade saw more institutional participation.<\/p>\n

Coinbase Establishing International Base in Bermuda<\/h2>\n

At the same time, Coinbase, a cryptocurrency exchange, has launched an international platform to support trading Bitcoin and Ethereum perpetual futures products. <\/strong><\/p>\n

Coinbase received regulatory approvals from the Bermuda Monetary Authority.<\/p>\n

The exchange said<\/a> their launch in the island nation doesn’t mean they are moving away from the United States.<\/p>\n

“Rest assured that Coinbase is committed to the U.S., but countries around the world are increasingly moving forward with responsible crypto-forward regulatory frameworks to strategically position themselves as crypto hubs.”<\/em><\/p>\n

The addition of Coinbase could offer Binance, the world’s largest cryptocurrency exchange by trading volumes, stiff competition.<\/p>\n

This development is when Binance is under regulatory scrutiny from various agencies in the United States<\/strong>, including the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and others.<\/p>\n

Ethereum (ETH) Price Analysis<\/h2>\n

\"Ethereum<\/p>\n

Ethereum is steady when writing, stabilizing inside a range with caps at $1,950 and $1,800, resting on March 2023 highs.<\/p>\n

In the short term, sellers have the upper hand as prices align with the primary trend of April 19. <\/strong><\/p>\n

Since prices are also within the April 21, sellers can look to unload on every attempt higher but below $1,950. <\/strong><\/p>\n

This outlook is valid from an effort-versus-result perspective and can only be null once there is a sharp breakout above $2,000.<\/p>\n

Conversely, conservative traders can wait for sellers to push prices below $1,800, ideally with rising volumes, before looking to ride the trend, targeting $1,500 in the sessions ahead. <\/strong><\/p>\n

In such a case, ETH bears will confirm losses of April 19, potentially setting the pace for even deeper losses.<\/p>\n

Technical charts courtesy of <\/strong>Trading View<\/strong><\/a>.<\/p>\n

Disclaimer<\/strong>: The opinions expressed do not constitute investment advice. If you wish to make a purchase or investment we recommend that you always conduct your research.<\/strong><\/em><\/p>\n

\n

If you found this article interesting, here you can find more Ethereum News<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum prices are in range between $1,800 and $1,950 in a typically bearish formation following losses from April 19.<\/p>\n","protected":false},"author":11,"featured_media":133239,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[87,73,74],"tags":[4677,4682],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/138476"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=138476"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/138476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/133239"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=138476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=138476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=138476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}