Can Ethereum [ETH] defy the mounting bearish pressure this time - Aliens: AI Crypto News & Markets Updates
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Can Ethereum [ETH] defy the mounting bearish pressure this time

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AMB Crypto

Thu, May 26, 2022

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In late March, the previously bearish market structure was broken and ETH teased at a bullish bias.

However, as April began, ETH was forced to drop below the $3000 mark, highlighting the strength of the bears.

However, the RSI has been making higher lows in recent days, and this could develop into a bullish divergence if ETH drops below the $1890 mark.

The CMF was well below the -0.05 mark in recent weeks and indicated heavy capital flow out of the market.

The OBV was in agreement with the bearish notion as it saw a strong dip in the month of May. A drop below $1900 could see a bullish divergence get reinforced on the daily chart.

However, buyers would need to remain cautious of a dive below the $1800 mark for Ethereum, as another wave of selling could be a possibility over the next week

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