Ethereum (ETH) price is hovering near $2,600 following three days of consecutive fall. EHT stabilizes after briefly falling below $2,500. In the previous attempt, the Ethereum price loose momentum as it approaches the mentioned level.
- Ethereum (ETH) price trades with modest gains after three days of fall.
- Expect a 12% upside from the current levels as price trades along ascending trend line.
- Upside remains capped near 200-EMA at $3,200.
The ascending trend line from the lows of January at $2,159 acts as a support for the bulls. Furthermore, the higher highs along with the bullish slopping line suggest ETH’s price could take a leap toward $3,000 once again.
However, investors must overcome the horizontal hurdle at $2,750 to pave a way toward the highs of March 2 at $3,045.00.
RSI: The daily Relative Strength Index is making an effort to pierce above the average line. Any uptick in the indicator would seek upside momentum in the pair.
MACD: The Moving Average Convergence Divergence (MACD) is hovering below the midline with a neutral bias.
Volume: The Volume Flow indicator is trading in the oversold zone. Even, a slight pullback in the indicator will push the price higher.
Above, $3,000 Ethereum price shall encounter the strong resistance barrier placed at 200-day Exponential Moving Average (EMA) at $3,230.
Alternatively, if the price breaks the bullish slopping line then ETH price will test February lows at $2,300.
On the weekly chart, strong support is placed around $2,224.54. If a broken fresh round of selling will be triggered toward the lows of July at $1,718.
The second largets cryptocurrency holds 24-hour trading volume at $12,439,650,838 as per the CoinMarketCap. ETH was last seen trading at $2,644 with 0.87% gains.
- Top Meme Tokens Slow To Recover From Recent Crash, Here’s Why
- Just In: Amid Crash, Market Expansion Could Boost This Stablecoin
- This Stablecoin’s Market Cap Skyrockets Amid FUD In Tether, UST
- Will DeFi Giant Lido Support The Terra Reboot?
- Sandbox (SAND) Jumps 16% Ahead Of Listing On This Top Exchange
- Is Do Kwon’s Terra Recovery Plan Part Of A “Kill Switch” Protocol?
- This Top-50 Crypto Jumped 28% This Week Despite A Market Crash
- Goldman Sachs: Crypto Drawdown Will Have Little Impact on U.S. Economy
- Just-In: Ethereum Merge Most Likely In August, Says Vitalik Buterin
- Beware, Bitcoin Jumping Back Above $30,000 Could Be A Dead Cat Bounce, Here’s why
- Bitcoin Price Analysis: BTC Price Strikes $30000; Breakout Or Fakeout?
- TRX Price Analysis – Another Bullish Attempt For $0.075 Breakout
- KuCoin Price Analysis: Low Volume Rally Hints Pullback Opportunity in KCS
- Polkadot Price Analysis: Bull Trap May Drag DOT Price To $7.3 Mark
- APE Price Analysis: Triangle Breakout Eyes 55% Rise in APE
- Ripple Price Analysis: XRP Price Remains Pressured Below $0.45
- EGLD Price Analysis: Decreasing Volume Hints EGLD to Reverse from $75
- Cardano Price Analysis: ADA Price Prepares For 22% Jump; Are You Holding?
- Bitcoin Price Analysis: BTC Price Holds Above $30,000; Opportunity To Buy?
- Ethereum Price Analysis: ETH Price Erases Recovery Gains Towards $2,000