The latest Ethereum price analysis shows a bearish trend in the coin’s market movement. The bearish pressure has been consistent, as ETH levels fall below the critical $1,800 mark after a strong bearish run. In the last few days, the ETH was trading above the $1,800 mark with more buying activity taking place. The market sentiment was largely bullish for the cryptocurrency, as investors and traders expected further gains in Ethereum‘s price.
However, the bearish trend shifted in recent hours with ETH levels sinking below $1,800. Selling pressure has increased on the cryptocurrency, pushing it even lower toward the support level of $1,725. The current bearish trend is likely to continue in the coming hours, with ETH prices expected to fall even lower towards $1,725. The next critical resistance level for Ethereum will be $1,823. It remains to be seen if there will be a strong recovery from Ethereum prices and if the market sentiment will shift back to bullish again.
Ethereum price analysis 24-hour chart: Bearish pulls ETH to the $1,790 mark.
The recent bearish pressure in the Ethereum market is clearly visible in the 24-hour trading chart. The downtrend has been consistent since the beginning of today with ETH prices seeing a sharp decline from $1,836 levels to below $1,800. The ETH/USD has decreased by 1.67 percent in the past 24 hours.
The market capitalization for ETH is also down at $215 billion, as the cryptocurrency has lost more than 1.66 percent in the last 24 hours, however, the trading volume for ETH has increased by 2.6 percent in the last 24 hours, indicating that traders are still actively buying and selling Ethereum.
The indicators on the chart also point to a bearish trend with the SMA 50 and SMA 200 trending downwards. The moving average indicator on the chart is seen at $1,789, indicating that the Ethereum price is likely to remain bearish in the near future. The Relative Strength Index (RSI) has also dropped to 58.31, indicating that the trend is likely to continue in the coming hours. The MACD indicator is also bearish with a downward crossover.
Ethereum price analysis 4-hour chart: Support level at $1,725 which should hold.
The 4-hour Ethereum price analysis chart also shows the bearish trend in ETH prices with a downtrend visible in the last four hours. The selling pressure is still present on the cryptocurrency, pushing ETH prices below the $1,800 mark. The bearish pattern is likely to continue in the coming hours, with ETH prices expected to fall even lower.
The moving average indicator is hovering around $1,802, with the 50-day moving average and 200-day moving average trending downwards. The Relative Strength Index (RSI) is also down in the neutral zone at 54.27, indicating that the bearish need remains in the market. The MACD indicator is also bearish with the MACD line below the signal line. The histogram also shows a downward trend with red bars indicating a bearish sentiment.
Concluzia analizei prețurilor Ethereum
Ethereum price analysis concludes that the current bearish trend is likely to continue in the coming hours, with ETH prices expected to fall even lower toward the support level of $1,725. The next critical resistance level for Ethereum will be $1,823. The buying activity needs to increase for Ethereum prices to see a strong recovery. The indicators on the chart are all pointing towards a bearish trend in the near term.
În timp ce așteptați ca Ethereum să se deplaseze mai departe, consultați Predicțiile noastre de preț pentru XDC, Cardano și Curve.
Sursă: https://www.cryptopolitan.com/ethereum-price-analysis-2023-04-03/