The post Ethereum (ETH) Price Analysis, Will the Price Secure $4000 Until the Weekly Close? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The second-largest crypto was trading between $3380 to $2400 ever since the beginning of 2022. After flipping the bottom at $2500 the ETH price maintained a significant uptrend and registered constant healthy green candles. However, since the asset reached crucial levels around $3384, it began consolidating with equal participation of the bulls and the bears. And hence the monthly close may be extremely important for the asset to start the Q2 trade on a bullish note.
In the larger time frame, Ethereum may encounter a bullish breakout from a symmetrical triangle and above $3000 resistance signalled a trend reversal then. However, the price maintained a similar trend ahead and test the upper resistance close to $3500 at the earliest. Here a significant upturned may be validated that may uplift the price above the crucial resistance of $3625. Hence a significant target of $3500 would be imminent to close the weekly trade.
Also Read: This is When Shiba INU(SHIB) Price May Hit $0.00003500 to Set Up a Huge Bullish Uptrend!
ETH/USDT Technical Analysis
|Relative Strength Index(RSI)||28.71||64.47|
|Average Directional Index(ADX)||27.73||67.82|
|Average True Value(ATR)||28.59||136.39|
Pivot Levels to Keep a Watch On!
- Moving Average (MA) – 50:- $2853.50
- Moving Average (MA) – 200:-$3487.75
- Resistance:- $3625.33
- Support:- $3168