The price of Ethereum (ETH) showed so much strength but has been hit with resistance against Tether (USDT) as the Ethereum merge is announced.\u00a0<\/p>\n
Ethereum price rallied with so much strength from a region of $1,670 to $1,924, as bulls anticipate the Ethereum merge from proof-of-work (POW) to proof-of-stake (POS).<\/p>\n
Ethereum merge is an upgrade on the Ethereum network from POW to POS so as to increase its network efficiency in transactions. (Data feeds from Binance)<\/p>\n
Ethereum Price Analysis On The Weekly Chart
\nWeekly ETH Price Chart | Source: ETHUSDT On Tradingview.com<\/p>\n
From the chart, the price of ETH saw a weekly low of around $900, which bounced from that area and rallied to a price of $1,920, this is an over 100% rise in price.<\/p>\n
The price has built more momentum as it faces resistance at $1,920.<\/p>\n
If the price of ETH on the weekly chart continues with this bullish structure, it could quickly revisit\u00a0 $1,900 and trend higher to $2,400.<\/p>\n
Weekly resistance for the price of ETH \u2013 $1,920.<\/p>\n
Weekly support for the price of ETH \u2013 $1,012.<\/p>\n
Price Analysis Of ETH On The Daily (1D) Chart
\nDaily ETH Price Chart | Source: ETHUSDT On Tradingview.com<\/p>\n
The price of ETH found strong support at around $1,580, with what seems to be an area of interest on the daily chart.<\/p>\n
ETH bounced from its support and rallied as it faces resistance to break above a ranging channel and has continued to move in range.\u00a0<\/p>\n
With bulls placing more buy bids this channel was broken pushing ETH price to $1,920.<\/p>\n
At the point of writing, the price of ETH is at $1,888,\u00a0 above the 50 Exponential Moving Average (EMA) with a price of $1,580.<\/p>\n
ETH is faced with a price rejection from the $1,920 region, as this has proven to be a resistance preventing the price to trend higher.<\/p>\n
If ETH price breaks this resistance of $1,920 successfully we could see the price trending higher ahead of the merge. If the ETH price gets rejected, $1,580 which corresponds with 50 EMA will be good support for buys.<\/p>\n
The Relative Strength Index (RSI) for the price of ETH on the daily chart is above 65, indicating healthy buy bids for ETH.<\/p>\n
The volume for ETH indicates buy bids, this shows bulls would want to push the price higher.<\/p>\n
Daily (1D) resistance for ETH price \u2013 $1,920.<\/p>\n
Daily (1D) support for ETH price \u2013 $1,580.<\/p>\n
Price Analysis OF ETH On The Four-Hourly (4H) Chart
\nFour-Hourly ETH Price Chart | Source: ETHUSDT On Tradingview.com<\/p>\n
The price of ETH has continued to maintain its bullish structure despite facing resistance at $1,920 trying to break out and trend higher.<\/p>\n
ETH is trading above the 50 and 200 EMA with prices of $1,760 and $1,580 acting as its support on the 4H chart, as the price faces resistance at $1,920.<\/p>\n
If the price of ETH breaks above the resistance with the good volume we could see the price trending to $$2,400, In case ETH is unable to break and experience a sell-off, 50 and 200 EMA prices would act as support for ETH prices.<\/p>\n
Four-Hourly (4H) resistance for ETH price \u2013 $1,920.<\/p>\n
Four-Hourly (4H) support for ETH price \u2013 $1,760, $1,580.<\/p>\n
Featured image from Watcher Guru, Charts from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
The price of Ethereum (ETH) showed so much strength but has been hit with resistance against Tether (USDT) as the Ethereum merge is announced.\u00a0<\/p>\n
Ethereum price rallied with so much strength from a region of $1,670 to $1,924, as bulls anticipate the Ethereum merge from proof-of-work (POW) to proof-of-stake (POS).<\/p>\n
Ethereum merge is an upgrade on the Ethereum network from POW to POS so as to increase its network efficiency in transactions. (Data feeds from Binance)<\/p>\n
Ethereum Price Analysis On The Weekly Chart
\nWeekly ETH Price Chart | Source: ETHUSDT On Tradingview.com<\/p>\n
From the chart, the price of ETH saw a weekly low of around $900, which bounced from that area and rallied to a price of $1,920, this is an over 100% rise in price.<\/p>\n
The price has built more momentum as it faces resistance at $1,920.<\/p>\n
If the price of ETH on the weekly chart continues with this bullish structure, it could quickly revisit\u00a0 $1,900 and trend higher to $2,400.<\/p>\n
Weekly resistance for the price of ETH \u2013 $1,920.<\/p>\n
Weekly support for the price of ETH \u2013 $1,012.<\/p>\n
Price Analysis Of ETH On The Daily (1D) Chart
\nDaily ETH Price Chart | Source: ETHUSDT On Tradingview.com<\/p>\n
The price of ETH found strong support at around $1,580, with what seems to be an area of interest on the daily chart.<\/p>\n
ETH bounced from its support and rallied as it faces resistance to break above a ranging channel and has continued to move in range.\u00a0<\/p>\n
With bulls placing more buy bids this channel was broken pushing ETH price to $1,920.<\/p>\n
At the point of writing, the price of ETH is at $1,888,\u00a0 above the 50 Exponential Moving Average (EMA) with a price of $1,580.<\/p>\n
ETH is faced with a price rejection from the $1,920 region, as this has proven to be a resistance preventing the price to trend higher.<\/p>\n
If ETH price breaks this resistance of $1,920 successfully we could see the price trending higher ahead of the merge. If the ETH price gets rejected, $1,580 which corresponds with 50 EMA will be good support for buys.<\/p>\n
The Relative Strength Index (RSI) for the price of ETH on the daily chart is above 65, indicating healthy buy bids for ETH.<\/p>\n
The volume for ETH indicates buy bids, this shows bulls would want to push the price higher.<\/p>\n
Daily (1D) resistance for ETH price \u2013 $1,920.<\/p>\n
Daily (1D) support for ETH price \u2013 $1,580.<\/p>\n
Price Analysis OF ETH On The Four-Hourly (4H) Chart
\nFour-Hourly ETH Price Chart | Source: ETHUSDT On Tradingview.com<\/p>\n
The price of ETH has continued to maintain its bullish structure despite facing resistance at $1,920 trying to break out and trend higher.<\/p>\n
ETH is trading above the 50 and 200 EMA with prices of $1,760 and $1,580 acting as its support on the 4H chart, as the price faces resistance at $1,920.<\/p>\n
If the price of ETH breaks above the resistance with the good volume we could see the price trending to $$2,400, In case ETH is unable to break and experience a sell-off, 50 and 200 EMA prices would act as support for ETH prices.<\/p>\n
Four-Hourly (4H) resistance for ETH price \u2013 $1,920.<\/p>\n
Four-Hourly (4H) support for ETH price \u2013 $1,760, $1,580.<\/p>\n
Featured image from Watcher Guru, Charts from TradingView.com\u00a0<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-5478","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/5478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=5478"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/5478\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=5478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=5478"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=5478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}