Ether turns down along with Bitcoin! Still Longing 4 $2200

ETHUSDT

Ether has been on an uptrend, however, it is facing resistance at a critical overhead level of 2 ,200, indicating that some short-term traders may be taking profits after the strong rally in recent days.

There is a possibility that the ETH/USDT pair could decline to the psychological support at 2 ,000 and then to the 20-day EMA ( 1 ,930). During pullbacks in an uptrend, buyers typically try to defend the 20-day EMA.

If the price rebounds from the 20-day EMA, it will indicate that buyers are interested in lower levels, which could increase the chances of breaking above 2 ,200. If this level is breached, the pair may surge towards 3 ,000.

On the other hand, if the price falls below the 20-day EMA, it will signal that the bulls are quickly exiting their positions. The pair may then drop to 1 ,680 and subsequently to the 200-day SMA ( 1 ,482).

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