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ETH Bears Target Sub-$1,880 on Gensler’s SEC v Ripple Comments
This morning, ETH was at a disadvantage. Investor mood was impacted by SEC Chair Gary Gensler's response to the SEC v. Ripple Court decision.
On Monday, Ethereum (ETH) decreased by 0.62%. ETH lost 0.41% on Sunday and finished the day at $1,912. For the first time in four sessions, ETH returned below $1,900.
Bitcoin Price Movement
ETH was down 0.06% at $1,911 this morning. ETH rose to an early high of $1,918 before dropping to a low of $1,908 during the day's range-bound opening.
Daily
After testing the lower level of the support band on Monday, ETH/USD was seen sitting above the $1,895 - $1,865 support zone on the Daily Chart.
Additionally, ETH/USD is trading above the 50-day ($1,871) and 200-day ($1,770) EMAs, indicating both short- and long-term positive momentum. Notably, bullish momentum was mirrored by the 50-day EMA's wider distance from the 200-day EMA.
The 14-Daily RSI reading of 52.79 indicated a positive outlook and was in line with the 50-day and 200-day EMAs. Significantly, the RSI suggests a run at $2,000 and the resistance range between $2,075 and $2,105
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