- Ethereum has managed to overcome the short-term bearish trend, indicating a slower start to the downward momentum. The cryptocurrency has broken the 1720 point resistance.
- Support levels for the currency are at 1640, and resistance levels are at 1850. Volume peaks and volume troughs align well with price highs and lows, which strengthens the currency.
- Today’s Ethereum price is $1,729.89 USD, with a 24-hour trading volume of $6,707,008,277 USD. Ethereum has gained 2.7% in the last 24 hours.
Ethereum successfully held above the critical $1700 resistance: What’s the next resistance level for ETH? Current ETH analysis!
Short-Term ETH Analysis
Ethereum has overcome the short-term bearish trend, indicating a slower start to the downward momentum. The cryptocurrency has broken the 1720 point resistance, which, once broken, provides a further bullish signal. The short-term momentum of the currency is highly positive, with RSI above 70. This indicates increasing optimism among investors and further price increases for Ethereum. However, especially for major assets, a high RSI can signal overbought conditions and the potential for a downward correction. Overall, the currency is technically viewed as slightly positive in the short term.
Medium-Term ETH Analysis
Ethereum has overcome the medium-long term bearish trend, indicating a slower start to the downward momentum. The currency is moving within a rectangle formation between support levels at 1573 and resistance levels at 1922. Once broken, it would signal a new direction for the currency. Support levels for the currency are at 1640, and resistance levels are at 1850. Volume peaks and volume troughs align well with price highs and lows, which strengthens the currency. Overall, the currency is viewed as slightly negative in the medium term.
Long-Term ETH Analysis
Ethereum has broken the base of a long-term upward trend channel, indicating a weaker start to the bullish momentum. The currency is moving within a rectangle formation between support levels at 1573 and resistance levels at 1922. Once broken, it would signal a new direction for the currency. The currency has broken the support at 2000, indicating further declines. In the case of positive reactions, there will now be resistance at the 2000 level. Overall, the currency is viewed as technically negative in the long term.
Ethereum Price
Today’s Ethereum price is $1,729.89 USD, with a 24-hour trading volume of $6,707,008,277 USD. Ethereum has gained 2.7% in the last 24 hours. According to the current CoinMarketCap ranking, Ethereum is ranked 2nd with a market capitalization of $208,001,721,233 USD. There are 120,240,108 ETH coins in circulation, and the maximum supply is unlimited.
