Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

• Sellers were temporarily stalled at $1800 support at press time. 
• Negative sentiment persists despite the accumulation seen in the past few weeks.

The U.S. stock and crypto market posted mixed results on 10 May after inflation fell slightly below 5%. In particular, Ethereum [ETH] increased to $1887.5 before sliding below $1800 on the daily session.  

Similarly, Bitcoin [BTC] reclaimed $28k before nosediving back to $27k. At press time, ETH traded at $1833 and flashed red – an overall bearish outlook partly accelerated by the recent Ethereum Foundation move. 

Is your portfolio green? Check ETH Profit Calculator 

Bears shell the $1800 support – Can bulls rebuff them?

In mid-April, ETH made a new high and climbed above $2100. After that, it retraced, but the $1800 support (cyan) checked the drop. So far, the support has remained steady in the past two weeks and could continue if BTC doesn’t drop below $27k. 

A BTC drop to $26k could set ETH to crack $1800 support and expose ETH to more sell-offs. Such a move could decelerate ETH to lower support levels at $1700 or $1500. 

Conversely, the $1800 support could come to the bulls’ rescue again if ETH sees aggressive demand at i

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Author: Suzuki Shillsalot

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