Technical Analysis On Crypto Ethereum

Ethereum floated higher in the last week. However, it vastly underperformed Bitcoin, most altcoins and the stock market. This continues to be a near-term concern for investors.

Ethereum also remains quite a distance below its bullish/bearish pivot line. Per technical analysis, this keeps Ethereum in a weak position with probability favoring the downside.

Should Ethereum fall, there is major support at $1,900-$2,000. This could be a good accumulation zone for buyers.

The pivot line for Ethereum stands at $2,850. Should Ethereum muster enough buyers to push above that level and confirm, the bias would strongly shift to bullish, with upside likely to $3,800.

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