- Ethereum has broken above the upper boundary of the short-term descending trend channel. This initially suggests a slower downward pace or the beginning of a more horizontal development.
- The cryptocurrency is moving within a rectangle formation between the support at 1,575 and the resistance at 1,925. Clearing one of these levels decisively will predict the new direction for the currency.
- Today, Ethereum’s price is shown as $1,674.40 USD, with a 24-hour trading volume of $7,043,286,574 USD. Ethereum has lost 1.80% in value over the last 24 hours.
Ethereum’s price initiated a rapid upward movement with ETF news and surged above $1,650: Where’s the next resistance level?
Short-Term ETH Analysis
Ethereum has broken above the upper boundary of the short-term descending trend channel. This initially suggests a slower downward pace or the beginning of a more horizontal development. The cryptocurrency has surpassed the 1,635 point resistance, indicating further upside potential. If ETH surpasses the $1,720 price resistance, it may continue its upward momentum. In the short term, the currency is generally considered technically positive.
Medium-Term ETH Analysis
Ethereum has broken above the upper boundary of the medium to long-term descending trend channel. This initially suggests a slower downward pace or the beginning of a more horizontal development. The cryptocurrency is moving within a rectangle formation between the support at 1,575 and the resistance at 1,925. Clearing one of these levels decisively will predict the new direction for the currency. The currency has slightly surpassed the 1,640 point resistance, indicating further upside. Volume peaks and troughs align well with price peaks and troughs, strengthening the currency. In the medium term, the currency is generally considered technically positive.
Long-Term ETH Analysis
Ethereum has broken below the base of a long-term ascending trend channel. This initially indicates a slower upward pace. The cryptocurrency is moving within a rectangle formation between the support at 1,575 and the resistance at 1,925. Clearing one of these levels decisively will predict the new direction for the currency. The currency has broken the 2,000 point support level, suggesting further declines. In case of positive responses, the 2,000 point resistance will now come into play. In the long term, the currency is generally considered technically negative.
Ethereum Price
Today, Ethereum’s price is shown as $1,674.40 USD, with a 24-hour trading volume of $7,043,286,574 USD. Ethereum has lost 1.80% in value over the last 24 hours. According to the current CoinMarketCap ranking, Ethereum is ranked 2nd with a market cap of $201,323,493,561 USD. There are 120,236,031 ETH tokens in circulation, and the maximum supply is not available.
