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The general crypto market is currently under severe headwinds, which have included price drops, particularly for the Ether.fi token. This seems to be the aftermath of the US president’s tariff order. Price action in this market has fallen below important technical levels, and bears seem to be in control at the moment.
ETHFI Statistics:
Ether.fi’s Current Price: $0.909
Market Capitalization: $217.42M
Circulating Supply: 219.35M
Total Supply: 1B
CoinMarketCap Rank: 193
Key Price Levels:
Resistance: $1.00, $1.50, $2.00
Support: $0.90, $0.70, $0.50
Ether.fi Sees a Deep Dive
Price action in the Ether.fi market has lost parity as it fell below the $1.00 mark. This was a support level that the price action had remained above for months. Additionally, the Moving Average (MA) lines recently delivered a bearish crossover above price action.
Likewise, the Stochastic Relative Strength Index (RSI) crossed below the 50 mark, and the lines of the indicator proceeded sharply downwards afterward. The ongoing session still holds some gains for bearish traders but has an upwardly contracted body. This suggests that bullish forces might be trying to restore parity, but they remain overwhelmed at the moment.
ETHFI Maintains a Bearish Trajectory But With Reduced Momentum
The Ether.fi token has continued to fall towards lower support levels. The previous session recorded more notable price falls, but the ongoing session on the 4-hour chart saw a significantly reduced downward retracement. Nevertheless, price action remains below all the MA lines.
Furthermore, the Stochastic RSI lines have reached the 20 mark of the oversold region. It appears the lines of this indicator could fall further if downward forces persist. Consequently, price action could fall lower towards the $0.800 price level. However, price movement may respond to relevant fundamental factors that can influence the crypto market, so traders should stay abreast of those.
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