Wednesday can be an important day for financial markets, including cryptocurrencies, as President Donald Trump is expected to announce the sweeping of the tariffs that “release” the US from the supposedly unfair practice of its trade partners.
At the forefront of the pivotal announcement, signs of downtrend fatigue appear in the Ether (ETH) market. Yes, you read the right one: after having a BTC through a large margin by two -year Bull Crypto Bull Run, ETH can lead if floating tariffs are more measured than expected.
Seller’s fatigue in March Lows, potentially double bottom
Ether fell with Bitcoin last week, but the Bears failed to penetrate the 16-month low $ 1,755 hit on March 11. That was the first sign of the seller’s fatigue or downend fatigue.
Since then, prices have been bouncing at $ 1,880, teasing a double bottom formation with neckline resistance to $ 2,104. A move through it will confirm the bullish breakout, opening the doors for $ 2,400, the level identified as the next resistance to each measured moving procedure.
DIFFERENCE -BUSINESS BUSINESS
While prices revised the low from March 11 last week, the histogram representing the spread between the price and the 50-day simple transfer of average (SMA) did not adhere to the suit and carved to put a higher low.
The difference -suggests that even though the prices have fallen, the momentum behind the downward price movement has weakened.
Line break flips bullish
After a long downtrend who saw prices stop at $ 2,000, the three-line break chart flipped bullish, marked a significant transfer to market sentiment. This change is depicted by the appearance of a green bar in the sun -set time, indicating a potential return to the price momentum.
The earlier signal of the line breaks since early March was short lived and became a bear trap. However, the latest bullish flip appears to be more reliable as it is accompanied by signs of downtrend fatigue on the candle charts discussed above.
That said, Macro factors can be alone to produce or break the charts, which means extensive risk prevention behind Trump’s tariffs can invalidate all bullish signals discussed above, which potentially leads to deeper ether losses in the ether.
