coingape.com
- ETH price has been respecting a descending channel for over a month
- ETH Price just rejected off 50 Day MA
- ETH price is about to break major support of $2100
ETH Price Overview
ETH price had a strong uptrend in place the last 2 weeks but it quickly came to a halt after getting rejected at two very important marks. After hitting its high of $4,500, ETH price has been in a strong downtrend along with the rest of the cryptocurrency market. Investors are still anticipating a strong upward push in light of the EIP-1559 upgrade that is scheduled to go live on Ethereum blockchain within the next few weeks. Although this may be beneficial, the chart has yet to flash overly bullish signals for short term price action.