Ethereum (ETH) Price Analysis, Will the Price Secure $4000 Until the Weekly Close?

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Ethereum

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

Technical Indicators

Technical Indicators Short-Term Long-Term
Relative Strength Index(RSI) 28.71 64.47
MACD -19.57 145.92
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