The Ethereum price is once again behaving strangely. The entire cryptocurrency market is showing mixed signals as major cryptocurrencies like Bitcoin and Ethereum are testing major levels. At the time of writing, the Ethereum price is sitting at $388.15 (-6.07%). Let’s take a look at it in more detail.
Litecoin Price Forecast – How Low Will The Litecoin Price Fall Now?
Ethereum Price Analysis: ETH Price is testing below $392 level
Ethereum Price Analysis Daily Price Chart: ETH/USD Daily Price Chart: Tradingview
At the moment, the Ethereum price is testing the $392 level. It has undergone a massive upside rejection from the $441 level. Just a few days ago, the Ethereum price was increasing like crazy and had touched the $441.50 mark. In the last 24 hours however, the Ethereum price has decreased by almost 6.07%, and in the last 10 days, the same price has decreased by almost 10.3%.
Now, if we closely analyze the daily price chart then at the moment the ETH has multiple resistance levels. The most crucial levels are:
- 0.236 Fib ($411.66)
- 0.382 Fib ($425.88)
- 0.5 Fib ($437.8)
However, before that, the ETH price will have to crack the psychological resistance at $400. After that, the gates could be wide open for the price to rise again and the next price resistance could be sitting at the golden ratio at ± $550. In short, the three above mentioned resistances could be crucial for Ethereum to pull a massive rally again. The key metrics are as follows:
| Price | $388.15 |
|---|---|
| 24hr Change | -6.09% |
| 24hr Vol | $1,233,208,523 |
| Liquid Marketcap | $43,284,878,593 |
| Liquid Supply | 111,708,301 |
Ethereum Price Analysis: The monthly ETH price is bullish!
Ethereum Price Analysis Monthly Price Chart: ETH/USD Monthly Price Chart: Tradingview
At this moment, the $400 level is a psychological one to reclaim. After that, Ethereum buyers could face resistance at the 12-EMA at $410. Further support level could be established at the 26-EMA at $376. Now, the trading volume of Ethereum is decreasing but no bearish movement has made any kind of continuation. For example, today, the 1Hr Low / 1Hr High is between $384.00 / $388.62.
Conclusion
Right now, ETH is showing signs of laziness. Bulls may look to gain momentum around $396-$398 in expectation of a strong come back towards the $425, and possibly $437 levels. But before that the Ethereum price must touch the psychological level of $400 once more. We wish you happy trading!
Want more crypto news and price analyses? Join CryptoTicker on Telegram and Twitter
In order to support and motivate the CryptoTicker team, especially in times of Corona, to continue to deliver good content, we would like to ask you to donate a small amount. Independent journalism can only survive if we stick together as a society. Thank you
Nexo – Your Crypto Banking Account
Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.
Ad
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission – but the prices do not change for you! 🙂
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
You might also like
More from Ethereum
What Resistances Are Left For ETH to Reach ATH? Is 2600$ Possible?
Ethereum price is increasing like crazy. At the time of writing this article, the ETH price is at $441.50 and has …
Ethereum Price Ready For A Massive Breakout Above $400
Ethereum price is currently at $393 and has been trading sideways for the past week. The daily chart has clearly …
Ethereum Price about to Break $400! ETH Price On Its Way to All Time High?
Ethereum price is showing extremely bullish behavior and its price is about to touch $400 mark. The entire cryptocurrency market …
