- Ethereum is within a short-term roughly sideways trend channel, indicating further developments in the same direction. There is no resistance on the price chart, suggesting further upward movement.
- The cryptocurrency is moving within a rectangle formation between the support level at 1522 and the resistance level at 1890. A definite break of one of these levels will indicate a new direction for the currency.
- Ethereum has broken below the long-term uptrend channel, initially indicating a weaker upward trend. The cryptocurrency has moved upwards after breaking the 1630 resistance.
Ethereum’s price couldn’t sustain its position above $1800 and is undergoing a downward movement. What are the current support and resistance levels for ETH?
Short-Term ETH Analysis
Ethereum is within a short-term roughly sideways trend channel, indicating further developments in the same direction. There is no resistance on the price chart, suggesting further upward movement. In case of a negative response, the cryptocurrency has support at approximately 1727 points. Positive volume balance, showing higher volume on days with rising prices and lower volume on days with falling prices, strengthens the short-term currency. RSI is above 70 after a good price increase in recent weeks.
The cryptocurrency shows strong positive momentum, indicating further increase. However, a high RSI, especially for large assets, may indicate overbought conditions and the possibility of a downward response. An RSI curve rising signifies a possible early signal of an upward trend reversal for the price. The currency is generally considered technically positive in the short term.
Medium-Term ETH Analysis
Investors have accepted lower prices over time as they exit Ethereum, and the currency is within a medium to long-term downtrend channel. This indicates increasing pessimism among investors and signals further decline for Ethereum. The cryptocurrency is moving within a rectangle formation between the support level at 1522 and the resistance level at 1890. A definite break of one of these levels will indicate a new direction for the currency. The cryptocurrency gave a positive signal by breaking above the 1729 resistance, signifying an increase to 1870 or higher.
The cryptocurrency is approaching the 1850-point resistance, which can result in a negative response. However, breaking above 1850 points would be a positive signal. Volume was higher at previous price peaks and lower at price dip levels. Positive volume balance weakens the downtrend and could be an early signal of a trend reversal. The short-term momentum of the currency is quite positive, and the RSI is above 70, indicating increased optimism among investors and the potential for further price increases. However, a high RSI, especially for large assets, may indicate overbought conditions and the possibility of a downward response. The currency is generally evaluated as technically slightly positive in the medium term.
Long-Term ETH Analysis
Ethereum has broken below the long-term uptrend channel, initially indicating a weaker upward trend. The currency has moved upwards after breaking the 1630 resistance, signifying further increase. Positive volume balance shows aggressive buyers and passive sellers, strengthening the currency. The currency is generally considered technically positive in the long term.
Ethereum Price
The current Ethereum price is $1,799 USD, with a 24-hour trading volume of $6,576,743,188 USD. Ethereum has decreased by 0.60% over the last 24 hours. According to the current CoinMarketCap ranking, ETH is ranked second with a market capitalization of $217,067,420,375 USD. There are 120,269,517 ETH tokens in circulation, and no maximum supply is specified.
