The price of Ethereum (ETH) has struggled against Tether (USDT) in the past few days, with more downtrend than the bullish sentiment seen in recent weeks.\u00a0<\/p>\n
Despite outperforming Bitcoin (BTC) in recent weeks, the price of Ethereum has found itself in key zones that would decide its major move.<\/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 $1,020, which bounced from that area and rallied to a price of $2,000 after showing great recovery signs in recent weeks.\u00a0<\/p>\n
ETH 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 $1,800 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 $2,020.<\/p>\n
Weekly support for the price of ETH \u2013 $1,700.<\/p>\n
Price Of Ethereum 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 trendline after successfully forming a bullish structure, the support at $1,770 seems to be an area of interest on the daily chart.<\/p>\n
ETH bounced from its support and rallied to $1,770, where it was faced with resistance and was rejected from that region.<\/p>\n
The price of ETH rose to form a rising wedge before rejection from the resistance of $2,020. ETH price was rejected from that region, breaking out of the rising wedge to the downside.\u00a0 \u00a0<\/p>\n
At the time of writing, the price of ETH is at $1,700, just above the 50 Exponential Moving Average (EMA) which corresponds to $1,660.<\/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 $1,400.<\/p>\n
The Relative Strength Index (RSI) for the price of ETH on the daily chart is below 50, indicating more sell bids.<\/p>\n
Daily (1D) resistance for ETH price \u2013 $2,020.<\/p>\n
Daily (1D) support for ETH price \u2013 $1,700, $1,660 .<\/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 failed to sustain its bullish structure above the 50 EMA price corresponding to $1,850 after breaking below it.<\/p>\n
On the 4H timeframe, the 200 EMA is acting as key support for the price of ETH.<\/p>\n
If ETH fails to hold the support region at 200 EMA, which corresponds to $1,700, we could see the price retesting the region of $1,600 as the next support area to hold the ETH price.<\/p>\n
Four-Hourly (4H) resistance for ETH price \u2013 $2,020.<\/p>\n
Four-Hourly (4H) support for ETH price \u2013 $1,700, $1,600.<\/p>\n
Featured Image From Ethereum World, Charts from TradingView.com <\/p>\n
\u00a0<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
The price of Ethereum (ETH) has struggled against Tether (USDT) in the past few days, with more downtrend than the bullish sentiment seen in recent weeks.\u00a0<\/p>\n
Despite outperforming Bitcoin (BTC) in recent weeks, the price of Ethereum has found itself in key zones that would decide its major move.<\/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 $1,020, which bounced from that area and rallied to a price of $2,000 after showing great recovery signs in recent weeks.\u00a0<\/p>\n
ETH 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 $1,800 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 $2,020.<\/p>\n
Weekly support for the price of ETH \u2013 $1,700.<\/p>\n
Price Of Ethereum 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 trendline after successfully forming a bullish structure, the support at $1,770 seems to be an area of interest on the daily chart.<\/p>\n
ETH bounced from its support and rallied to $1,770, where it was faced with resistance and was rejected from that region.<\/p>\n
The price of ETH rose to form a rising wedge before rejection from the resistance of $2,020. ETH price was rejected from that region, breaking out of the rising wedge to the downside.\u00a0 \u00a0<\/p>\n
At the time of writing, the price of ETH is at $1,700, just above the 50 Exponential Moving Average (EMA) which corresponds to $1,660.<\/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 $1,400.<\/p>\n
The Relative Strength Index (RSI) for the price of ETH on the daily chart is below 50, indicating more sell bids.<\/p>\n
Daily (1D) resistance for ETH price \u2013 $2,020.<\/p>\n
Daily (1D) support for ETH price \u2013 $1,700, $1,660 .<\/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 failed to sustain its bullish structure above the 50 EMA price corresponding to $1,850 after breaking below it.<\/p>\n
On the 4H timeframe, the 200 EMA is acting as key support for the price of ETH.<\/p>\n
If ETH fails to hold the support region at 200 EMA, which corresponds to $1,700, we could see the price retesting the region of $1,600 as the next support area to hold the ETH price.<\/p>\n
Four-Hourly (4H) resistance for ETH price \u2013 $2,020.<\/p>\n
Four-Hourly (4H) support for ETH price \u2013 $1,700, $1,600.<\/p>\n
Featured Image From Ethereum World, Charts from TradingView.com <\/p>\n
\u00a0<\/p>\n
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