The price of Ethereum (ETH) has struggled to hold above $2,000 against Tether (USDT) after being rejected from that region.\u00a0\u00a0<\/p>\n
Ethereum price in the past few weeks outperformed the price of Bitcoin (BTC) but has shown bearish signs indicating the ETH price could be set to retest the nearest support.<\/p>\n
Ethereum (ETH) 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 $1,700, which bounced from that area and rallied to a price of $2,030 after showing great recovery signs in recent weeks.\u00a0<\/p>\n
Ethereum\u2019s weekly candle closed with a bullish sentiment, with the new week\u2019s candle looking bearish for the price of ETH as it continued to decline in price to a region of $1,850 after facing rejection from the $2,020 mark.\u00a0<\/p>\n
The price has struggled to build more momentum as it tries to hold key support.<\/p>\n
If the price of ETH on the weekly chart continues with this structure, it could quickly revisit\u00a0 $1,700, acting as a support for the price of ETH.<\/p>\n
Weekly resistance for the price of ETH \u2013 $2,000.<\/p>\n
Weekly support for the price of ETH \u2013 $1,700.<\/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 $1,770 above a ranging channel after a successful breakout, with what seems to be an area of interest on the daily chart.<\/p>\n
ETH bounced from its support and rallied to $2,030, where it was faced with resistance and was rejected from that region.<\/p>\n
The price of ETH has continued to range in a rising wedge after being rejected from the $2,030 mark; the price has broken to the downside, indicating a possibility of retesting the $1,700 support zone.<\/p>\n
At the point of writing, the price of ETH is at $1,860, above the 50 Exponential Moving Average (EMA), which corresponds to $1,652.<\/p>\n
ETH needs to hold above this support area that corresponds with the 50 EMA, a break below this region could send the price of ETH to $1,200.<\/p>\n
The Relative Strength Index (RSI) for the price of ETH on the daily chart is above 55, indicating good buy bids.<\/p>\n
Daily (1D) resistance for ETH price \u2013 $2,030.<\/p>\n
Daily (1D) support for ETH price \u2013 $1,740, $1,600.<\/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 continues to look bullish and holds above the 200 EMA price corresponding to $1,648.<\/p>\n
On the 4H timeframe, the 200 EMA is acting as a support for the price of ETH after breaking out below the rising wedge.<\/p>\n
If ETH fails to hold the support region, we could see the price retesting the region of $1,200 as the next support area to hold the ETH price.<\/p>\n
Four-Hourly (4H) resistance for ETH price \u2013 $2,030.<\/p>\n
Four-Hourly (4H) support for ETH price \u2013 $1,600, $1,200.<\/p>\n
Featured image from DevianArt, Charts from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
The price of Ethereum (ETH) has struggled to hold above $2,000 against Tether (USDT) after being rejected from that region.\u00a0\u00a0<\/p>\n
Ethereum price in the past few weeks outperformed the price of Bitcoin (BTC) but has shown bearish signs indicating the ETH price could be set to retest the nearest support.<\/p>\n
Ethereum (ETH) 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 $1,700, which bounced from that area and rallied to a price of $2,030 after showing great recovery signs in recent weeks.\u00a0<\/p>\n
Ethereum\u2019s weekly candle closed with a bullish sentiment, with the new week\u2019s candle looking bearish for the price of ETH as it continued to decline in price to a region of $1,850 after facing rejection from the $2,020 mark.\u00a0<\/p>\n
The price has struggled to build more momentum as it tries to hold key support.<\/p>\n
If the price of ETH on the weekly chart continues with this structure, it could quickly revisit\u00a0 $1,700, acting as a support for the price of ETH.<\/p>\n
Weekly resistance for the price of ETH \u2013 $2,000.<\/p>\n
Weekly support for the price of ETH \u2013 $1,700.<\/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 $1,770 above a ranging channel after a successful breakout, with what seems to be an area of interest on the daily chart.<\/p>\n
ETH bounced from its support and rallied to $2,030, where it was faced with resistance and was rejected from that region.<\/p>\n
The price of ETH has continued to range in a rising wedge after being rejected from the $2,030 mark; the price has broken to the downside, indicating a possibility of retesting the $1,700 support zone.<\/p>\n
At the point of writing, the price of ETH is at $1,860, above the 50 Exponential Moving Average (EMA), which corresponds to $1,652.<\/p>\n
ETH needs to hold above this support area that corresponds with the 50 EMA, a break below this region could send the price of ETH to $1,200.<\/p>\n
The Relative Strength Index (RSI) for the price of ETH on the daily chart is above 55, indicating good buy bids.<\/p>\n
Daily (1D) resistance for ETH price \u2013 $2,030.<\/p>\n
Daily (1D) support for ETH price \u2013 $1,740, $1,600.<\/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 continues to look bullish and holds above the 200 EMA price corresponding to $1,648.<\/p>\n
On the 4H timeframe, the 200 EMA is acting as a support for the price of ETH after breaking out below the rising wedge.<\/p>\n
If ETH fails to hold the support region, we could see the price retesting the region of $1,200 as the next support area to hold the ETH price.<\/p>\n
Four-Hourly (4H) resistance for ETH price \u2013 $2,030.<\/p>\n
Four-Hourly (4H) support for ETH price \u2013 $1,600, $1,200.<\/p>\n
Featured image from DevianArt, Charts from TradingView.com\u00a0<\/p>\n
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