Ethereum price started a fresh increase above the $2,580 resistance. ETH is still very far from a new all-time high while Bitcoin is near ATH. Ethereum started a decent increase above the $2,620 zone. The price is trading above $2,580 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,530 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $2,650 and $2,680 resistance levels. Ethereum Price Climbs Slowly Ethereum price formed a base above the $2,465 level and started a fresh increase like Bitcoin. ETH climbed above the $2,550 and $2,580 resistance levels to move into a positive zone. The price is up over 5% and there was a move above the $2,620 level. A high is formed at $2,680 and the price is struggling to follow Bitcoin’s strength. The price corrected gains and traded below the 23.6% Fib retracement level of the upward move from the $2,488 swing low to the $2,680 high. Ethereum price is now trading above $2,600 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,530 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,680 level. The main resistance is now forming near $2,720. A clear move above the $2,720 resistance might send the price toward the $2,915 resistance. An upside break above the $2,915 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,000 resistance zone. Downside Correction In ETH? If Ethereum fails to clear the $2,680 resistance, it could start a downside correction. Initial support on the downside is near the $2,600 level. The first major support sits near the $2,560 zone or the 61.8% Fib retracement level of the upward move from the $2,488 swing low to the $2,680 high. A clear move below the $2,600 support might push the price toward $2,550. Any more losses might send the price toward the $2,530 support level in the near term. The next key support sits at $2,450. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,600 Major Resistance Level – $2,680
Ethereum price started a fresh increase above the $2,550 resistance. ETH is following Bitcoin’s rally, but it is lacking the same strength. Ethereum started a decent increase above the $2,600 zone. The price is trading above $2,550 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $2,630 and $2,650 resistance levels. Ethereum Price Starts Steady Increase Ethereum price formed a base above the $2,450 level and started a fresh increase like Bitcoin. ETH climbed above the $2,500 and $2,550 resistance levels to move into a positive zone. The price is up over 5% and there was a move above the $2,600 level. A high is formed at $2,630 and the price is showing positive signs. It is holding gains above the 23.6% Fib retracement level of the upward move from the $2,487 swing low to the $2,630 high. Ethereum price is now trading above $2,550 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,520 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,630 level. The first major resistance is near the $2,650 level. The main resistance is now forming near $2,720. A clear move above the $2,720 resistance might send the price toward the $2,880 resistance. An upside break above the $2,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,950 resistance zone. Downside Correction In ETH? If Ethereum fails to clear the $2,650 resistance, it could start a downside correction. Initial support on the downside is near the $2,595 level. The first major support sits near the $2,550 zone or the 50% Fib retracement level of the upward move from the $2,487 swing low to the $2,630 high. A clear move below the $2,550 support might push the price toward $2,520. Any more losses might send the price toward the $2,450 support level in the near term. The next key support sits at $2,320. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,550 Major Resistance Level – $2,650
Ethereum price extended losses and tested the $2,380 support zone. ETH is recovering losses and struggling to gain pace for a move above the $2,5250 level. Ethereum started a recovery wave from the $2,380 zone. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $2,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,520 and $2,550 resistance levels. Ethereum Price Aims Higher Ethereum price extended its decline below the $2,250 level unlike Bitcoin. ETH traded as low as $2,379 and recently started an upside correction. There was a minor increase above the $2,420 level. The price traded above the 50% Fib retracement level of the downward wave from the $2,562 swing high to the $2,379 low. The bulls even pushed the price above the $2,500 resistance but struggled near $2,520. Ethereum price is now trading below $2,500 and the 100-hourly Simple Moving Average. There is also a short-term rising channel forming with support at $2,480 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,520 level and the 100-hourly Simple Moving Average. It is close to the 76.4% Fib retracement level of the downward wave from the $2,562 swing high to the $2,379 low. The first major resistance is near the $2,550 level. The main resistance is now forming near $2,600. A clear move above the $2,600 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,750 resistance zone. Another Decline In ETH? If Ethereum fails to clear the $2,520 resistance, it could start another decline. Initial support on the downside is near the $2,480 level. The first major support sits near the $2,420 zone. A clear move below the $2,420 support might push the price toward $2,380. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now near the 50 zone. Major Support Level – $2,450 Major Resistance Level – $2,520
Ethereum (ETH) continues to perform poorly against Bitcoin (BTC) as the second-largest digital asset by reported market cap hit new multi-year lows against the top cryptocurrency. Ethereum Continues To Underperform Against Bitcoin Today, Ethereum’s native ETH token slid further against BTC, recording a low of 0.0365 and erasing all its gains against Bitcoin since April […]
Ethereum price extended losses and tested the $2,450 support zone. ETH is recovering losses and struggling to gain pace for a move above the $2,550 level. Ethereum started a recovery wave from the $2,450 zone. The price is trading below $2,560 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,580 and $2,600 resistance levels. Ethereum Price Starts Recovery Ethereum price extended its decline below the $2,550 level like Bitcoin. ETH traded as low as $2,445 and recently started an upside correction. There was a minor increase above the $2,500 level. The price traded above the 23.6% Fib retracement level of the downward wave from the $2,760 swing high to the $2,445 low. There was also a break above a key bearish trend line with resistance at $2,540 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,560 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,560 level. The first major resistance is near the $2,580 level and the 100-hourly Simple Moving Average. The main resistance is now forming near $2,600. It is close to the 50% Fib retracement level of the downward wave from the $2,760 swing high to the $2,445 low. A clear move above the $2,600 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,750 resistance zone. Another Decline In ETH? If Ethereum fails to clear the $2,560 resistance, it could start another decline. Initial support on the downside is near the $2,505 level. The first major support sits near the $2,485 zone. A clear move below the $2,485 support might push the price toward $2,450. Any more losses might send the price toward the $2,420 support level in the near term. The next key support sits at $2,340. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,500 Major Resistance Level – $2,580
Ethereum price struggled to continue higher above the $2,750 resistance and corrected gains. ETH is now struggling to start a fresh increase above $2,650. Ethereum started a downside correction below the $2,650 support. The price is trading below $2,650 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $2,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,650 and $2,680 resistance levels. Ethereum Price Starts Consolidation Ethereum price started a downside correction from the $2,750 resistance like Bitcoin. ETH traded below the $2,700 and $2,650 support levels to enter a short-term bearish zone. The price traded as low as $2,605 and is currently consolidating losses. There was a minor increase above the $2,620 level. The price traded close to the 23.6% Fib retracement level of the downward move from the $2,757 swing high to the $2,605 low. Besides, there was a break above a connecting bearish trend line with resistance at $2,620 on the hourly chart of ETH/USD. However, the price is struggling to gain bullish momentum. Ethereum price is now trading below $2,650 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,700 level. It is close to the 50% Fib retracement level of the downward move from the $2,757 swing high to the $2,605 low. A clear move above the $2,700 resistance might send the price toward the $2,750 resistance. An upside break above the $2,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,800 resistance zone in the near term. The next hurdle sits near the $2,850 level or $2,880. More Downsides In ETH? If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near the $2,600 level. The first major support sits near the $2,550 zone. A clear move below the $2,550 support might push the price toward $2,500. Any more losses might send the price toward the $2,440 support level in the near term. The next key support sits at $2,420. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,600 Major Resistance Level – $2,650
Ethereum price is extending gains above the $2,650 resistance. ETH could continue to rise toward $2,850 if it clears the $2,750 resistance zone. Ethereum remained in a positive zone above the $2,580 and $2,620 resistance levels. The price is trading above $2,650 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $2,680 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $2,750 and $2,780 resistance levels. Ethereum Price Aims For More Gains Ethereum price remained stable above the $2,600 level like Bitcoin. ETH extended gains above the $2,650 resistance level to move further into a positive zone. The price cleared the $2,700 level and tested $2,765. A high was formed at $2,765 and the price is now consolidating gains. There was a minor decline below the $2,740 level, but the price is stable above the 23.6% Fib retracement level of the upward move from the $2,576 swing low to the $2,765 high. Ethereum price is now trading above $2,650 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,680 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the upward move from the $2,576 swing low to the $2,765 high. On the upside, the price seems to be facing hurdles near the $2,750 level. The first major resistance is near the $2,765 level. A clear move above the $2,765 resistance might send the price toward the $2,840 resistance. An upside break above the $2,840 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,880 resistance zone in the near term. The next hurdle sits near the $2,920 level or $2,950. Another Drop In ETH? If Ethereum fails to clear the $2,750 resistance, it could start another decline. Initial support on the downside is near the $2,720 level. The first major support sits near the $2,680 zone and the trend line. A clear move below the $2,720 support might push the price toward $2,650. Any more losses might send the price toward the $2,620 support level in the near term. The next key support sits at $2,550. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,650 Major Resistance Level – $2,765
All eyes are on Ethereum as the crypto market watches closely following Bitcoin’s recent surge. Analysts and investors are now cautiously waiting for Ethereum to catch up, with some fearing that ETH’s performance in this cycle may fall short of expectations. Related Reading: Solana Targets $160 Resistance As TVL Hits New Yearly Highs Recent price action for Ethereum has shown signs of strength, giving investors confidence that a potential breakout could be near. Ethereum is currently trading within a bullish pattern that, if broken, could lead to a massive surge in the coming weeks. With Bitcoin leading the way and market momentum building, ETH could be poised to follow, unlocking new gains and potentially signaling the start of a powerful rally for the altcoin. Investors are closely watching for signs that Ethereum will break free from its consolidation and begin to climb, as it remains one of the most closely monitored assets in the market. Ethereum Flirting With A Surge Over the past few weeks, Bitcoin has surged, leaving investors eagerly waiting for Ethereum to follow suit. Top analyst and investor Carl Runefelt has shared his technical analysis on X, highlighting a bullish pattern emerging on Ethereum’s 1-hour price chart. Runefelt’s analysis points to an ascending triangle formation, which is generally a bullish indicator. According to him, if Ethereum manages to break above this pattern, a rapid surge to $2,870 could be imminent. This price level represents a key target for Ethereum, as it signals a strong upward move and confirms that the altcoin is catching up with Bitcoin’s recent performance. However, there are still risks that Ethereum could continue to trade sideways if it fails to break the current resistance level. In that case, ETH could remain trapped in consolidation for a longer period, which would cause further frustration among investors hoping for a rally. Related Reading: On-Chain Metrics Reveal Bitcoin Demand Is Growing – Can BTC Break ATHs In Q4? Despite these risks, market conditions favor Ethereum’s potential breakout as bullish sentiment grows. Analysts are watching closely, anticipating that Ethereum’s moment to surge could come soon, setting the stage for significant gains. Price Levels To Watch Ethereum (ETH) currently trades at $2,624 after three days of uncertainty and volatility. The price recently surged by 10% from the $2,400 area, showing signs of strength, but now faces a crucial resistance level. For the bulls to regain momentum, Ethereum needs to push above the current price and reclaim the 200-day exponential moving average (EMA), which is $2,800. This significant level would signal that ETH is back on track for further upside, potentially catching up with Bitcoin’s recent gains. However, if Ethereum fails to break above this key resistance and reclaim the 200-day EMA, it risks entering a sideways consolidation phase. A failure to hold current levels could lead to a retrace, with support likely around the $2,450 mark. Related Reading: Ethereum Could Target $3,400 Once It Breaks Above Bullish Pattern – Details Traders and investors are closely watching the price action as Ethereum’s next move will determine whether it can break free from its current uncertainty or continue to face resistance in the coming days. As the broader crypto market remains volatile, Ethereum’s ability to hold key levels will be critical for its near-term outlook. Featured image from Dall-E, chart from TradingView
Ethereum price is consolidating gains above the $2,580 resistance. ETH could gain pace if it clears the $2,650 resistance zone. Ethereum remained in a positive zone above the $2,550 and $2,580 resistance levels. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $2,650 and $2,680 resistance levels. Ethereum Price Aims For More Upsides Ethereum price remained stable above the $2,550 pivot level like Bitcoin. ETH corrected some gains and tested the $2,550 support level. Recently, it started a fresh increase above the $2,580 and $2,600 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $2,685 swing high to the $2,538 low. The bulls were able to push the price above the $2,620 resistance zone. Besides, there is a key bullish trend line forming with support near $2,600 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,600 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,650 level. It is near the 76.4% Fib retracement level of the downward move from the $2,685 swing high to the $2,538 low. The first major resistance is near the $2,685 level. A clear move above the $2,685 resistance might send the price toward the $2,750 resistance. An upside break above the $2,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,840 resistance zone in the near term. The next hurdle sits near the $2,880 level or $2,920. Another Drop In ETH? If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near the $2,600 level and the trend line. The first major support sits near the $2,570 zone. A clear move below the $2,570 support might push the price toward $2,550. Any more losses might send the price toward the $2,480 support level in the near term. The next key support sits at $2,420. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,550 Major Resistance Level – $2,650
Ethereum (ETH) has surged above $2,500, now testing a critical supply level that could spark a massive rally for both ETH and altcoins. After several days of anxiety and uncertainty, yesterday’s market surge has reignited optimism across the crypto space. Investors and traders are closely watching Ethereum’s price action, as a break above this crucial zone could signal the start of a significant upward trend, potentially setting the stage for an Altseason. Related Reading: Dogecoin Buy Signal Hints At Upside As Funding Rate Keeps Rising Top analysts and investors await confirmation that ETH is poised to rally soon. Carl Runefelt, a well-known analyst and investor, has shared his technical analysis on Ethereum, suggesting that the long-awaited rally may be just around the corner. According to Runefelt, ETH’s breakout from the current supply zone could lead to a substantial price surge, attracting bullish momentum for Ethereum and a broader range of altcoins. The next few days are critical for Ethereum’s price action as the market awaits signals that could define the direction of this potential rally. Investors remain optimistic, anticipating that ETH could lead the market into its next major bullish phase. Ethereum Testing Crucial Supply Ethereum has been trading within a bullish triangle formation since early August, and the moment of truth for a potential breakout may be close. ETH has underperformed BTC throughout the year, causing many investors and traders to question ETH’s strength during this cycle. This trend led to a shift in confidence as Bitcoin continued to dominate, leaving Ethereum behind. However, during yesterday’s market pump, Ethereum showed renewed strength, outperforming Bitcoin for the first time in a while, signaling a possible shift in market dynamics. Prominent crypto analyst Carl Runefelt recently shared a technical analysis on X, highlighting Ethereum’s imminent breakout from the bullish triangle pattern. According to Runefelt, Ethereum is approaching a key moment, and a breakout from this pattern could lead to a major rally. He suggests that once ETH breaks through, the next supply zone to target is around $3,400, representing a significant upward move from current levels. Related Reading: Solana Will Target New ATHs Once It Breaks $160 Resistance – Analyst This optimistic outlook comes from renewed positive sentiment across the market and Ethereum’s improved price action. Traders and investors are closely watching the next few days, as a successful breakout could mark the beginning of Ethereum’s long-awaited bullish trend and re-establish its strength relative to Bitcoin. ETH Technical Levels To Watch Ethereum is trading at $2,611 after a notable 7% surge yesterday. This upward momentum allowed the price to break past the $2,500 mark, a critical resistance level pushing the price down since the beginning of October. Now, Ethereum is less than 8% away from the 200-day exponential moving average (EMA), currently at $2,806. For bulls to gain control and establish a sustained uptrend, ETH must reclaim this 200-day EMA and close above the $2,800 level. Doing so would signal a continuation of bullish momentum and set the stage for a potential rally to higher price levels. On the other hand, if Ethereum fails to hold above the $2,500 support level, a deeper correction may be on the horizon. In that case, the price could return to $2,300, where stronger demand may help stabilize the market. Related Reading: XRP Will Jump 75% If It Holds Current Demand Level – Details The next few days are crucial for Ethereum, as traders and investors are watching closely to see whether the price can hold its recent gains and break through key resistance levels. Featured image from Dall-E, chart from TradingView
Ethereum price extended losses and tested the $2,350 support. ETH is now consolidating and might aim for a fresh increase above the $2,400 resistance. Ethereum started a downside correction below the $2,400 zone. The price is trading just above $2,420 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel with support at $2,425 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,350 support level to start another increase in the near term. Ethereum Price Dips Further Ethereum price failed to start a fresh increase above the $2,500 resistance zone. ETH remained in a bearish zone like Bitcoin and traded below the $2,420 support zone. There was also a move below the $2,400 level. There was a break below a short-term rising channel with support at $2,425 on the hourly chart of ETH/USD. The price tested the $2,350 support zone. A low was formed at $2,350 and the price is now rising. There was a move above the $2,350 and $2,360 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $2,467 swing high to the $2,350 low. Ethereum price is now trading below $2,425 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,400 level or the 50% Fib retracement level of the downward move from the $2,467 swing high to the $2,350 low at $2,410. A clear move above the $2,410 resistance might send the price toward the $2,450 resistance. An upside break above the $2,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,550 resistance zone in the near term. The next hurdle sits near the $2,600 level or $2,620. More Losses In ETH? If Ethereum fails to clear the $2,410 resistance, it could start another decline. Initial support on the downside is near the $2,365 level. The first major support sits near the $2,350 zone. A clear move below the $2,350 support might push the price toward $2,300. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,350 Major Resistance Level – $2,410
Ethereum price corrected gains and tested the $2,400 support. ETH is now consolidating and might aim for a fresh increase above the $2,465 resistance. Ethereum started a downside correction below the $2,500 zone. The price is trading just above $2,430 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $2,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,400 support level to start another increase in the near term. Ethereum Price Holds Support Ethereum price failed to extend gains above the $2,500 resistance zone. ETH started a downside correction like Bitcoin and traded below the $2,465 support zone. There was also a move below the $2,420 level. The price tested the 50% Fib retracement level of the upward wave from the $2,310 swing low to the $2,519 high. It seems like the bulls are now protecting more downsides below the $2,400 support level. Ethereum price is now trading just above $2,430 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,465 level. There is also a short-term rising channel forming with support at $2,420 on the hourly chart of ETH/USD. A clear move above the $2,465 resistance might send the price toward the $2,500 resistance. An upside break above the $2,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,600 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,665. More Losses In ETH? If Ethereum fails to clear the $2,465 resistance, it could start another decline. Initial support on the downside is near the $2,420 level. The first major support sits near the $2,390 zone or the 61.8% Fib retracement level of the upward wave from the $2,310 swing low to the $2,519 high. A clear move below the $2,390 support might push the price toward $2,325. Any more losses might send the price toward the $2,240 support level in the near term. The next key support sits at $2,120. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,390 Major Resistance Level – $2,465
Ethereum price is eyeing a fresh increase like Bitcoin. ETH must surpass $2,665 to continue higher and trade to a new high in the near term. Ethereum is aiming for a fresh increase above the $2,665 level. The price is trading above $2,620 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $2,625 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,600 support to start a fresh increase in the near term. Ethereum Price Eyes More Upsides Ethereum price found support near the $2,550 level and started a fresh increase like Bitcoin. ETH was able to clear the $2,600 resistance level, but upsides were less compared to BTC. The price climbed above the 50% Fib retracement level of the downward move from the $2,700 swing high to the $2,554 low. Besides, there was a break above a connecting bearish trend line with resistance at $2,625 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,620 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,665 level. It is near the 76.4% Fib retracement level of the downward move from the $2,700 swing high to the $2,554 low. The first major resistance is near the $2,700 level. The next key resistance is near $2,720. An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,780 resistance zone in the near term. The next hurdle sits near the $2,850 level or $2,880. Another Drop In ETH? If Ethereum fails to clear the $2,665 resistance, it could start another decline. Initial support on the downside is near the $2,600 level and the 100-hourly Simple Moving Average. The first major support sits near the $2,550 zone. A clear move below the $2,550 support might push the price toward $2,525. Any more losses might send the price toward the $2,480 support level in the near term. The next key support sits at $2,440. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,600 Major Resistance Level – $2,665
Ethereum price extended its increase above the $2,650 resistance. ETH is now correcting gains and might find bids near the $2,600 support. Ethereum is currently correcting gains from the $2,700 resistance. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,550 support to continue higher in the near term. Ethereum Price Holds Support Ethereum price remained well-supported and extended its increase, beating Bitcoin. ETH was able to clear the $2,550 and $2,650 resistance levels. The bulls even pushed the price above the $2,680 resistance. It tested the $2,700 zone. A high was formed at $2,701 and the price is now correcting gains. There was a drop below the $2,650 level. The price declined below the 23.6% Fib retracement level of the upward move from the $2,528 swing low to the $2,701 high. Ethereum price is now trading above $2,600 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,600 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $2,528 swing low to the $2,701 high. On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,680 level. The next key resistance is near $2,700. An upside break above the $2,700 resistance might call for more gains. In the stated case, Ether could rise toward the $2,780 resistance zone in the near term. The next hurdle sits near the $2,840 level or $2,880. More Losses In ETH? If Ethereum fails to clear the $2,650 resistance, it could continue to move down. Initial support on the downside is near $2,615. The first major support sits near the $2,600 zone and the trend line zone. A clear move below the $2,600 support might push the price toward $2,550. Any more losses might send the price toward the $2,525 support level in the near term. The next key support sits at $2,450. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,600 Major Resistance Level – $2,650
Ethereum is firm when writing but continues to underperform versus Bitcoin. Though ETH is floating above $2,400, and may even break above $3,000 in the coming years, the rapid strengthening of the world’s most valuable coin, on the other hand, might push the ETH/BTC ratio to multi-month lows. ETH Struggling Versus Bitcoin, ETH/BTC Ratio Drops […]
Ethereum price started a fresh upward move above the $2,420 resistance. ETH traded close to $2,500 and is now consolidating gains. Ethereum started another increase from the $2,320 resistance. The price is trading above $2,400 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,385 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,480 resistance to continue higher in the near term. Ethereum Price Surges Over 8% Ethereum price remained well-supported and extended its increase, beating Bitcoin. ETH was able to clear the $2,350 and $2,420 resistance levels. There was a sharp move, and the price gained nearly 10%. It traded close to the $2,500 resistance zone. A high was formed at $2,493 and the price is now consolidating gains. There was a minor decline below the $2,460 level. The price tested the 23.6% Fib retracement level of the upward move from the $2,277 swing low to the $2,493 high. Ethereum price is now trading above $2,440 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,385 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $2,277 swing low to the $2,493 high. On the upside, the price seems to be facing hurdles near the $2,480 level. The first major resistance is near the $2,500 level. The next key resistance is near $2,550. An upside break above the $2,550 resistance might call for more gains. In the stated case, Ether could rise toward the $2,650 resistance zone in the near term. The next hurdle sits near the $2,750 level or $2,800. Are Dips Limited In ETH? If Ethereum fails to clear the $2,480 resistance, it could start a downside correction. Initial support on the downside is near $2,440. The first major support sits near the $2,385 zone and the trend line zone. A clear move below the $2,385 support might push the price toward $2,320. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,200. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,385 Major Resistance Level – $2,500
Today’s Ethereum-Bitcoin (ETH/BTC) trading pair slid below 0.04, a level last seen in April 2021. The declining ETH/BTC ratio could have multiple implications for the wider altcoin market. Altcoins Might Suffer Due To Weak Ethereum One of the key indicators to gauge the resiliency of the altcoin market is the ETH/BTC ratio. The ratio essentially tracks the relative price strength of Ethereum against Bitcoin and is widely considered a metric that could indicate the future potential price action of altcoins. As of September 16, 2024, the ETH/BTC ratio sits at 0.039, a level it last touched 3 years ago in April 2021. In fact, after hitting a high of 0.088 in December 2021, the ETH/BTC ratio has been on a long-lasting decline, barring the occasional dead cat bounce, before further eroding in value. Related Reading: Ethereum Price Nosedives Over 5%, Pressure Mounts on Bulls Regarding altcoin price action, a surging ETH/BTC ratio indicates that Ethereum is performing well against Bitcoin. Conversely, a declining ratio suggests that Bitcoin outperforms Ethereum and other altcoins, which could trigger a shift in confidence away from Ethereum toward Bitcoin. As a result, the wider crypto market might witness a sell-off in altcoins as capital seeks more stable and better-performing assets. Currently, Bitcoin dominance (BTC.D) sits at 57.78%, and it can be observed that the metric has been on a steady uptrend since November 2022. An increase in BTC.D further solidifies a weakening altcoin market, hinting that liquidity is exiting small-cap tokens, which might lead to volatile price action and quick price drawdowns. It’s worth highlighting that the US Securities and Exchange Commission’s (SEC) approval of Ethereum exchange-traded-funds (ETFs) didn’t quite turn out to be as significant an event for ETH price as it did for BTC. Data from crypto ETF tracker SoSoValue shows that the cumulative net outflow for US Ethereum ETFs is $581 million, while the net inflow for US Bitcoin ETFs is $17.3 billion. Can Ethereum Price Change Its Momentum? Ethereum is exchanging hands at $2,282, a price level it last touched in January 2024. Notably, the second-largest cryptocurrency by market cap briefly touched the $3,900 mark, before losing all its gains. Most recently, it was reported that 112,000 ETH was moved to crypto exchanges in one day, suggesting that investors might not be too keen on holding ETH while its price relative to Bitcoin weakens. Related Reading: Ethereum (ETH) Triangle Formation Hints At A Double Bottom: Breakout and New ATH? Some experts opine that now might be a good time to convert BTC holdings to ETH as they see a potential 180% surge in the battered ETH/BTC ratio. The continual selling pressure on Ethereum has also moved ETH to oversold territory, giving hope to ETH holders that the digital asset has likely bottomed and might soon see a strong price recovery. Featured image from Unsplash, Charts from Tradingview.com
Ethereum (ETH) is currently facing significant selling pressure and fear after a 23% decline, bringing its price down to yearly lows at $2,200. One major concern for investors is the ongoing underperformance of ETH compared to Bitcoin, a trend that has persisted since September 2022. Since then, Ethereum has fallen 44% against Bitcoin. Related Reading: Ethereum (ETH) Triangle Formation Hints At A Double Bottom: Breakout and New ATH? This dramatic drop has left investors and traders questioning the reasons behind Ethereum’s struggle. A recent report from CryptoQuant offers some clarity, pointing to several factors that may be affecting ETH performance. As market participants continue to monitor ETH’s movements, many are left wondering whether the asset can regain momentum or if further downside is to be expected in the coming weeks. Ethereum Exposed: CryptoQuant Report Sheds Light The recent report from CryptoQuant offers clarity on factors currently affecting Ethereum (ETH). Declining on-chain activity, shrinking institutional interest, and the underwhelming performance of Ethereum ETFs compared to Bitcoin are among the key contributors to Ethereum’s struggles, with the ETH/BTC pair now sitting at 0.0425, its lowest level since April 2021. Ethereum’s underperformance seems to be tied to weaker network activity dynamics compared to Bitcoin. For instance, Ethereum’s total transaction fees have continued to decline, mostly attributed to the lower fees after the Dencun upgrade. The relative transaction count has also fallen dramatically, dropping from a record high of 27 in June 2021 to 11, one of the lowest levels since July 2020. Moreover, Ethereum’s supply dynamics are not supportive of a price increase. Since early April, the total supply of ETH has steadily grown following the Dencun upgrade. The current supply is at 120.323 million ETH, the highest level since May 2023. Related Reading: Ethereum Enters Oversold Territory, Can The Pump Send It To $6,000? Additionally, traders and investors have shown a clear preference for Bitcoin over Ethereum, as the relative spot trading volume of ETH to Bitcoin has dropped from 1.6 to 0.76 in the past week. Ethereum’s price has historically risen relative to Bitcoin when its trading volume outperforms Bitcoin’s. Given these factors, Ethereum may continue to underperform compared to Bitcoin in the near future. ETH Price Action Ethereum (ETH) is currently trading at $2,262 after a significant 23% drop from its local highs. Volatility and uncertainty continue to drive the market as ETH tests local demand near its yearly lows of around $2,200. The cryptocurrency remains far below its 4-hour 200 moving average (MA) at $2,565, a critical indicator that typically signals market strength. For bulls to regain control, it is essential for the price to break above this moving average and challenge the local highs at $2,600. Related Reading: Bitcoin Fear And Greed Index Falls To ‘Extreme Fear’ As BTC Dips Below $54,000 However, if Ethereum fails to hold support at its yearly low of $2,200, the price will likely enter a deeper correction phase, potentially signaling the start of a bear market. This level is crucial for ETH’s short-term recovery, as losing it could trigger further selling pressure. Bulls need to retake these key levels to prevent ETH from slipping into prolonged bearish territory. Featured image from Dall-E, chart from TradingView
Ethereum price is attempting a recovery wave above $2,380. ETH must clear the $2,440 resistance to continue higher in the near term. Ethereum is attempting a recovery wave from the $2,350 zone. The price is trading below $2,440 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,440 resistance to continue higher in the near term. Ethereum Price Faces Resistance Ethereum price attempted a recovery wave above the $2,440 level. However, ETH failed to clear the $2,500 resistance zone. A high was formed at $2,488 and the price declined again like Bitcoin. It tested the $2,350 support zone. A low was formed at $2,347 and the price is now attempting a recovery wave. There was a move above the $2,365 and $2,380 resistance levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $2,488 swing high to the $2,347 low. Ethereum price is now trading below $2,440 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,400 level. There is also a connecting bearish trend line forming with resistance at $2,400 on the hourly chart of ETH/USD. The first major resistance is near the $2,440 level or the 61.8% Fib retracement level of the downward wave from the $2,488 swing high to the $2,347 low. A close above the $2,440 level might send Ether toward the $2,500 resistance. The next key resistance is near $2,550. An upside break above the $2,550 resistance might send the price higher toward the $2,720 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,440 resistance, it could start another decline. Initial support on the downside is near $2,365. The first major support sits near the $2,350 zone. A clear move below the $2,350 support might push the price toward $2,310. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,350 Major Resistance Level – $2,440
Ethereum price dived below the $2,420 and $2,400 support levels. ETH tested $2,300 and is now showing signs of a decent recovery wave. Ethereum is attempting a recovery wave from the $2,300 zone. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,440 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,500 resistance to start a steady increase in the near term. Ethereum Price Dips Again Ethereum price extended losses below the $2,420 level. ETH even traded below the $2,400 support before the bulls appeared. A low was formed at $2,308 and the price is now attempting a recovery wave like Bitcoin. There was a move above the $2,320 and $2,350 resistance levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $2,564 swing high to the $2,308 low, but there are many hurdles on the upside. Ethereum price is now trading below $2,500 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,440 level. It is close to the 50% Fib retracement level of the downward wave from the $2,564 swing high to the $2,308 low. There is also a key bearish trend line forming with resistance at $2,440 on the hourly chart of ETH/USD. The first major resistance is near the $2,500 level. A close above the $2,500 level might send Ether toward the $2,550 resistance. The next key resistance is near $2,650. An upside break above the $2,650 resistance might send the price higher toward the $2,800 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,440 resistance, it could start another decline. Initial support on the downside is near $2,320. The first major support sits near the $2,300 zone. A clear move below the $2,300 support might push the price toward $2,250. Any more losses might send the price toward the $2,120 support level in the near term. The next key support sits at $2,040. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,300 Major Resistance Level – $2,440
Ethereum price started another decline below the $2,550 support. ETH could dive toward the $2,250 support zone before the bulls emerge. Ethereum started a fresh decline below the $2,550 level. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above $2,400 to start another increase in the near term. Ethereum Price Extends Losses Ethereum price failed to stay above the $2,620 support and extended losses. ETH traded below the $2,550 and $2,500 support levels like Bitcoin. It even tested the $2,400 support. A low was formed near $2,401 and the price is now attempting a recovery wave. There was a move above the $2,420 level. The price is testing the 23.6% Fib retracement level of the downward wave from the $2,596 swing high to the $2,401 low. Ethereum price is now trading below $2,500 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $2,500 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,500 level and the 100-hourly Simple Moving Average. It is close to the 50% Fib retracement level of the downward wave from the $2,596 swing high to the $2,401 low. The first major resistance is near the $2,550 level. A close above the $2,550 level might send Ether toward the $2,620 resistance. The next key resistance is near $2,660. An upside break above the $2,660 resistance might send the price higher toward the $2,800 resistance zone in the near term. More Downsides In ETH? If Ethereum fails to clear the $2,500 resistance, it could start another decline. Initial support on the downside is near $2,420. The first major support sits near the $2,400 zone. A clear move below the $2,400 support might push the price toward $2,320 where the bulls could emerge. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,110. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,400 Major Resistance Level – $2,500
Ethereum price started a recovery wave from the $2,400 zone. ETH is now struggling to gain pace for a move above the $2,600 resistance zone. Ethereum started a recovery wave above $2,500 and $2,550. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above $2,485 to start another increase in the near term. Ethereum Price Attempts Recovery Ethereum price remained stable above $2,400 and attempted a recovery wave like Bitcoin. The price was able to rise above the $2,480 and $2,500 resistance levels. There was a move above the 23.6% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low. The price even surpassed the $2,550 resistance. There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH/USD. However, the bears were active near the $2,600 resistance. They protected the 50% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low. Ethereum price is now trading below $2,580 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,550 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,600 level. A close above the $2,600 level might send Ether toward the $2,660 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,820 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,600 resistance, it could start another decline. Initial support on the downside is near $2,500. The first major support sits near the $2,485 zone. A clear move below the $2,485 support might push the price toward $2,420 where the bulls could emerge. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,485 Major Resistance Level – $2,600
Ethereum price is correcting gains from the $2,820 resistance. ETH could start another increase unless there is a close below the $2,645 support. Ethereum is correcting gains below the $2,780 and $2,750 levels. The price is trading below $2,720 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $2,740 on the hourly chart of ETH/USD (data feed via Kraken). The pair could find bids near the $2,650 and $2,645 levels. Ethereum Price Starts Downside Correction Ethereum price extended its increase above the $2,750 resistance level. ETH even climbed above $2,800 before the bears appeared. A high was formed at $2,820 and the price started a downside correction like Bitcoin. There was a move below the $2,780 level. The price declined below the 50% Fib retracement level of the upward wave from the $2,535 swing low to the $2,820 high. Besides, there was a break below a key bullish trend line with support at $2,740 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,740 and the 100-hourly Simple Moving Average. However, the bulls are likely to remain active near the $2,645 support. It is close to the 61.8% Fib retracement level of the upward wave from the $2,535 swing low to the $2,820 high. If there is another increase, the price might face hurdles near the $2,720 level. The first major resistance is near the $2,740 level. A close above the $2,740 level might send Ether toward the $2,820 resistance. The next key resistance is near $2,880. An upside break above the $2,880 resistance might send the price higher toward the $3,000 resistance zone in the near term. More Downsides In ETH? If Ethereum fails to clear the $2,740 resistance, it could continue to move down. Initial support on the downside is near $2,645. The first major support sits near the $2,600 zone. A clear move below the $2,600 support might push the price toward $2,550 where the bulls could emerge. Any more losses might send the price toward the $2,500 support level in the near term. The next key support sits at $2,440. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,645 Major Resistance Level – $2,740
Ethereum price struggled to clear the $2,750 resistance. ETH is now consolidating near $2,635 and remains at risk of more downsides. Ethereum started a fresh decline from the $2,750 resistance. The price is trading below $2,700 and the 100-hourly Simple Moving Average. There was a break below a key contracting triangle with support at $2,695 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it drops below the $2,635 support zone. Ethereum Price Slides Again Ethereum price started a decent increase from the $2,650 support zone. ETH outperformed Bitcoin and surpassed the $2,720 resistance zone. However, the bears were active near the $2,750 zone. The recent swing high was formed at $2,763 before the price corrected gains. There was a move below the $2,720 and $2,700 levels. Besides, there was a break below a key contracting triangle with support at $2,695 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,700 and the 100-hourly Simple Moving Average. A low is formed near $2,635 and the price is now consolidating. If there is another increase, the price might face hurdles near the $2,700 level. It is close to the 50% Fib retracement level of the recent decline from the $2,763 swing high to the $2,635 low. The first major resistance is near the $2,735 level or the 76.4% Fib retracement level of the recent decline from the $2,763 swing high to the $2,635 low. A close above the $2,735 level might send Ether toward the $2,765 resistance. The next key resistance is near $2,800. An upside break above the $2,800 resistance might send the price higher toward the $2,880 resistance zone in the near term. More Losses In ETH? If Ethereum fails to clear the $2,700 resistance, it could continue to move down. Initial support on the downside is near $2,635. The first major support sits near the $2,600 zone. A clear move below the $2,600 support might push the price toward $2,550. Any more losses might send the price toward the $2,520 support level in the near term. The next key support sits at $2,440. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,635 Major Resistance Level – $2,700
Ethereum price started a downside correction from the $2,700 zone. ETH is now consolidating and struggling to stay above the $2,500 support. Ethereum started a downside correction below the $2,650 and $2,620 levels. The price is trading below $2,650 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $2,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise again if it stays above the $2,550 support zone. Ethereum Price Trims Gains And Revisit $2,550 Ethereum price struggled to extend gains above the $2,700 resistance zone. ETH started a downside correction below the $2,650 level like Bitcoin. There was a move below the $2,620 and $2,600 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. Besides, there was a break below a connecting bullish trend line with support at $2,620 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,650 and the 100-hourly Simple Moving Average. However, the bulls are trying to protect more downsides below the $2,500 support zone. If there is another increase, the price might face hurdles near the $2,600 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,625 level. A close above the $2,625 level might send Ether toward the $2,700 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,880 resistance zone in the near term. More Downsides In ETH? If Ethereum fails to clear the $2,625 resistance, it could continue to move down. Initial support on the downside is near $2,520 and the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. The first major support sits near the $2,500 zone. A clear move below the $2,500 support might push the price toward $2,450. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,500 Major Resistance Level – $2,625
As visible from their daily chart performances, Bitcoin, Ethereum, and other top altcoins are not free from bearish pressures. Bitcoin and Ethereum, despite being the most liquid, are still down double digits in the past trading week. As bulls push higher, traders closely monitor how prices will react at immediate liquidation zones. Institutions Choosing Ethereum […]
Ethereum price started a recovery wave from the $1,910 zone. ETH is up over 10% and is now consolidating near the $2,500 zone. Ethereum started a recovery wave above the $2,250 and $2,400 levels. The price is trading below $2,650 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair could struggle to clear the $2,680 resistance zone. Ethereum Price Rebound 10% Ethereum price gained bearish momentum below the $2,500 support. ETH dragged Bitcoin lower and traded below the $2,200 support. It even spiked below the $2,000 level before the bulls appeared. A low was formed at $1,911 and the price recently started a recovery wave. There was a recovery wave above the $2,250 level. The price broke the 50% Fib retracement level of the downward move from the $2,920 swing high to the $1,910 swing low. Besides, there was a break above a key bearish trend line with resistance at $2,400 on the hourly chart of ETH/USD. Ethereum price is still trading below $2,650 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $2,550 level and the 61.8% Fib retracement level of the downward move from the $2,920 swing high to the $1,910 swing low. The first major resistance is near the $2,680 level. The next major hurdle is near the $2,650 level. A close above the $2,650 level might send Ether toward the $2,850 resistance. The next key resistance is near $2,880. An upside break above the $2,880 resistance might send the price higher toward the $3,000 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near $2,365. The first major support sits near the $2,250 zone. A clear move below the $2,250 support might push the price toward $2,050. Any more losses might send the price toward the $2,000 support level in the near term. The next key support sits at $1,920. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,365 Major Resistance Level – $2,550
Ethereum price struggled to clear the $3,400 zone and corrected gains. ETH is firm near $3,280 and might attempt another increase in the near term. Ethereum started a downside correction from the $3,400 resistance. The price is trading near $3,280 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase unless there is a close below the $3,250 support zone. Ethereum Price Holds Firm While Bitcoin Dips Ethereum price extended its increase above the $3,250 zone. ETH even cleared the $3,350 resistance zone and tested the $3,400 level. Recently, there was a downside correction from the $3,395 high, but it was less compared to Bitcoin. The price declined below the $3,350 support zone. It declined below the 50% Fib retracement level of the upward move from the $3,201 swing low to the $3,395 high. Ethereum is now trading near $3,280 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,280 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the upward move from the $3,201 swing low to the $3,395 high. If there is a fresh increase, the price could face resistance near the $3,350 level. The first major resistance is near the $3,400 level. The next major hurdle is near the $3,440 level. A close above the $3,440 level might send Ether toward the $3,500 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher toward the $3,720 resistance zone in the near term. More Losses In ETH? If Ethereum fails to clear the $3,350 resistance, it could continue to move down. Initial support on the downside is near $3,280. The first major support sits near the $3,250 zone and the trend line. A clear move below the $3,250 support might push the price toward $3,180. Any more losses might send the price toward the $3,120 support level in the near term. The next key support sits at $3,080. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,250 Major Resistance Level – $3,350
Ethereum price started a decent upward move from the $3,080 support zone. ETH is recovering and might aim for a test of the $3,500 resistance zone. Ethereum is showing positive signs from the $3,150 pivot zone. The price is trading above $3,250 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it stays above the $3,280 support zone. Ethereum Price Eyes Steady Increase To $3,500 Ethereum price formed a base above the $3,080 support zone. A low is formed at $3,087 and the price started a decent increase above the $3,220 resistance zone, but lagged strength like Bitcoin. There was a break above a key bearish trend line with resistance at $3,280 on the hourly chart of ETH/USD. The pair was able to clear the 50% Fib retracement level of the downward move from the $3,540 swing high to the $3,087 low. Ethereum is now trading above $3,250 and the 100-hourly Simple Moving Average. If there are more upsides, the price could face resistance near the $3,375 level or the 61.8% Fib retracement level of the downward move from the $3,540 swing high to the $3,087 low. The first major resistance is near the $3,400 level. The next major hurdle is near the $3,450 level. A close above the $3,450 level might send Ether toward the $3,500 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher toward the $3,720 resistance zone in the coming days. Are Dips Limited In ETH? If Ethereum fails to clear the $3,400 resistance, it could start a downside correction. Initial support on the downside is near $3,280. The first major support sits near the $3,250 zone. A clear move below the $3,180 support might push the price toward $3,120. Any more losses might send the price toward the $3,080 support level in the near term. The next key support sits at $3,050. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,250 Major Resistance Level – $3,400
Ethereum price extended losses and tested the $3,080 support zone. ETH is recovering and might aim for a test of the $3,350 resistance zone. Ethereum tested $3,080 and started a recovery wave. The price is trading below $3,350 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $3,220 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it stays above the $3,180 support zone. Ethereum Price Recovers above $3,200 Ethereum price extended losses below the $3,250 support zone. ETH even declined below $3,150 and tested the $3,080 support zone. A low is formed at $3,087 and the price is now rising but lacks momentum like Bitcoin. There was a move above the $3,200 resistance. The price cleared the 23.6% Fib retracement level of the downward move from the $3,500 swing high to the $3,087 low. Besides, there was a break above a connecting bearish trend line with resistance at $3,220 on the hourly chart of ETH/USD. Ethereum is still trading below $3,350 and the 100-hourly Simple Moving Average. If there are more upsides, the price could face resistance near the $3,300 level. The first major resistance is near the $3,350 level, the 100-hourly Simple Moving Average, and the 61.8% Fib retracement level of the downward move from the $3,500 swing high to the $3,087 low. The next major hurdle is near the $3,400 level. A close above the $3,400 level might send Ether toward the $3,500 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher toward the $3,720 resistance zone in the coming days. Another Decline In ETH? If Ethereum fails to clear the $3,300 resistance, it could start another decline. Initial support on the downside is near $3,185. The first major support sits near the $3,120 zone. A clear move below the $3,120 support might push the price toward $3,080. Any more losses might send the price toward the $3,020 support level in the near term. The next key support sits at $2,950. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,185 Major Resistance Level – $3,350