- Ethereum is exhibiting weak development within a short-term descending trend channel. Descending trends indicate that the currency is experiencing negative development, and buying interest among investors is diminishing.
- The currency is trading between a support level of 1,580 points and a resistance level of 1,635 points. A clear break of one of these levels will indicate a new direction for the currency. The currency is currently evaluated as slightly negative from a technical standpoint in the short term.
- Today, Ethereum’s price is displayed as $1,628.78 USD, with a 24-hour trading volume of $5,972,777,076 USD. Ethereum has lost 0.86% in the last 24 hours.
Ethereum price managed to hold above the $1,600 level: ETH needs to break these resistance levels for further gains!
Short-Term ETH Analysis
Ethereum is exhibiting weak development within a short-term descending trend channel. Descending trends indicate that the currency is experiencing negative development, and buying interest among investors is diminishing. The currency is trading between a support level of 1,580 points and a resistance level of 1,635 points. A clear break of one of these levels will indicate a new direction for the currency. The currency is currently evaluated as slightly negative from a technical standpoint in the short term.
Medium-Term ETH Analysis
Ethereum is in a medium to long-term descending trend channel. This signals increased pessimism among investors and more downward movement for Ethereum. After an adverse signal from the head and shoulders formation, the price fell below the support level of 1,806. The target of 1,649 points has currently been met, but the formation suggests further developments in the same direction.
The currency broke the 1,640 points support level, which indicates further declines. In cases where there are positive reactions, the 1,640 points level will now act as resistance. Volume aligns well with price peaks and troughs, weakening the descending trend and potentially indicating an early sign of a trend break. Ethereum is generally evaluated as negative from a technical standpoint in the medium term.
Long-Term ETH Analysis
Ethereum has fallen below the ground of a long-term rising trend channel. Initially, this signals a slower rate of ascent or the beginning of more horizontal development. The currency is trading within a rectangle formation between a support level of 1,397 points and a resistance level of 2,191 points. A clear break of one of these levels will indicate a new direction for the currency. The currency broke the 2,000 points support level, indicating further declines. Ethereum is generally evaluated as negative from a technical standpoint in the long term.
Ethereum Live Price Data
Today, Ethereum’s price is displayed as $1,628.78 USD, with a 24-hour trading volume of $5,972,777,076 USD. Ethereum has lost 0.86% in the last 24 hours. According to the current CoinMarketCap ranking, Ethereum holds the 2nd position with a market capitalization of $195,836,767,407 USD. It is known that 120,234,937 ETH tokens are in circulation.
