TA- Ethereum Price struggles To Breakout – Eyes $2,000

News BTC

The price of Ethereum (ETH) has struggled to break out of a range against Tether (USDT) after being rejected from key resistance.

Ethereum price has seen a relief bounce, with Bitcoin (BTC) rallying after closing the weekly candle with bullish sentiment from a daily low of $23,000 to a region of $24,100 in the early hours. (Data feeds from Binance)

How To Get Free Crypto  

Price Analysis Of ETH On The Weekly Chart

Ethereum’s price saw a weekly close of around $1,720, with a new candle opening bullish ahead of the week.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The price has built more momentum as it faces resistance at $2,400.

If the price of ETH on the weekly chart continues with this bullish structure, it could quickly hit the $2,000 mark ahead of its merge.

Weekly resistance for ETH price – $2,400.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Get 110 USDT Futures Bonus for FREE!

Weekly support for ETH price – $1,012.

Price Analysis Of ETH On The Daily (1D) Chart

ETH Daily Price Chart | Source: ETHUSDT On Tradingview.com

The price of ETH found strong support at around $1,580, with what seems to be an area of interest on the daily chart.

ETH has continued to range in a channel where it has struggled to break out, ranging between $1,580 – $1,720.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

At the point of writing, the price of ETH is at $1,774, trading above the 50 exponential moving averages (EMA), which corresponds to the support at $1,536. 

Coinbase Banner  

ETH price would find support at $1,536, which corresponds with the daily 50 EMA if it drops due to sell-offs.

If the 50 EMA region fails to hold the price, $1,362 would be a good support to hold sell-offs and for a possible bounce of ETH price.

With more buy bids, we could see the price of ETH retesting at $2,000 -$2,400, which has been resistance on the daily chart.

The RSI for ETH price on the daily chart is above 60, indicating healthy buy bids for ETH.

The volume for ETH looks good, indicating positive signs for ETH prices to trend higher.

Daily (1D) resistance for ETH price – $2,400.

Daily (1D) support for ETH price – $1,536, $1,362.

Price Analysis Of ETH On The Four-Hourly (4H) Chart

Four-Hourly (4H) ETH Price Chart | Source: ETHUSDT On Tradingview.com

The price of ETH has shown a bullish continuation on the 4H chart after bouncing off from the support at $1,600. 

FreeBitcoin Banner  

ETH price has struggled in this region, forming a ranging channel on the 4H chart after a rejection at $1,740 due to sell-offs.

The current price is $1,770, trading above the 50 & 200 EMA with prices of $1,660 and $1,530 on the 4H chart. These prices would act as support areas for ETH on the 4H chart.

The price of ETH is trying to break out of the channel; with good buy bids, the price of ETH could push to $2,000 -$2,400.

Four-Hour (4H) resistance for ETH price – $2,400.

Four-Hour (4h) support for ETH price – $1,660, $1,530.

A break below these support zones could send ETH price to a region of $1,362, acting as a good support area.

Featured image from Bitcoinist, Charts from TradingView.com 

Go to Source
Author: jamesobande


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.