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ETH technical analysis suggests a head and shoulder breakout with a 9.50% fall overnight in response to FED officials’ hawkish statements warning of an interest rate rise.Only 18 days before the merger, Ethereum (ETH) prices fell by 9.50% in response to increased selling in US markets. Ether reaches $1500 and provides a head and shoulders breakout, suggesting a drop to the $1000 support level.<a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">The Ethereum (ETH) price analysis shows a surge in selling pressure</a>, which is supported by a spike in trading volume. As a result, the price trend returns to $1700, forming a head and shoulders pattern on the daily chart.The bearish breakout pushes buyers at the psychological level of $1500, and a drop below $1361 is possible soon. The daily candle, on the other hand, is indicating lower price rejection, trying to halt a downtrend.Prices are trading below the 50 and 100-day simple moving averages, weakening the recent bullish crossing. Instead, it raises the likelihood of a bearish crossover, which might extend the decline.Ethereum If the $1500 support level is breached this weekend, ETH prices might drop below $1269. However, a Doji candle forming at $1500 might prevent prices from rising beyond the psychological level.The daily candle of the token began at a price of $1508 and reached at a price of $1519. Bitcoin’s daily low, on the other hand, is $1470. At the time of writing, the price of Bitcoin is $1505.KEY LEVELS :RESISTANCE LEVEL : $1550-$1600SUPPORT LEVEL : $1460-$1380Get more crypto related updates :-<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow"> https://www.coingabbar.com/en/crypto-news-english</a>

Cryptocurrency price update: ETHEREUM PRICE ANALYSIS : ETH Drops With A Bearish Flag Pattern and Head and Shoulder pattern; Will It Fall Below $1400?

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