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Ethereum price surge curtailed by bearish order block at $2,000 psychological level
reclaiming of the $29k price zone. However, the selling pressure in the last 24 hours saw ETH’s price dip to $1,908, as of press time.Ethereum bulls rise to the occasionETH made a YTD-high of $2,127 in mid-April. However, the bearish order block at that level halted more bullish gains. This led to price dipping to the $1,820 price zone. Subsequent bullish rallies were thwarted with the price stuck in a consolidation range between $1,820 and $1,955.
The Visible Range Volume Profile provided insight into what ETH’s next move might look like. The Value Area High stood at $1,940 while the Value Area Low stood at $1,762. With price bouncing off the Point of Control , bulls could get ready to make another approach for the $2,000 price zone. Traders can watch out for a daily candle close above $1,940 – $1,960, as this could offer buying opportunities. Alternatively, aggressive bears can wait for rejection at the VAH for more shorting opportunities.Coinglass
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