Crypto NewsEthereum (ETH)

Did ETH hit a local low after reclaiming $ 4,000?

                                                            Der ETH-Preis ist heute über 4.000 USD gestiegen – zum Zeitpunkt des Schreibens dieser Zeilen, was auf eine mögliche kurzfristige Umkehr des Abwärtstrends hoffen lässt.

Major support levels: $ 4,000, $ 3,700

Key Resistance Levels: $ 4,435, $ ​​4,868 (ATH)

After a very turbulent past few days, the market has gone green today and ETH has passed the USD 4,000 mark. It still has to be shown that ETH can hold the key rate on a daily closing basis. The last time ETH was able to close above USD 4,000 a day was 9 days ago (excluding Wednesday’s closing price at just USD 4,000).

The latter will be the first step for the bulls to build a floor at $ 4,000. ETH must then test and confirm the level again as support. The next big one resistance for ETH is $ 4435.
Chart according to TradingView

This is what awaits you in this article

Technical indicators

Trading Volume: Decent volume on the last day’s climb; however, the total volume remains low in the daily time frame compared to the previous days. It is important to watch how today’s (Tuesday) volume closes.

RSI: The daily RSI is turning up again. If ETH price can hold above the critical $ 4,000 level, the RSI could hit a higher high that can become bullish for the near future.

MACD: The daily MACD is one day away from forming a bullish cross. BTC has already made a bullish cross; thus the ETH seems to have lagged behind. If the crossover is confirmed, a rebound becomes likely.
Did ETH hit a local low after reclaiming $ 4,000?, Crypto Trading NewsChart according to TradingView

Bias

The trend for ETH is moderately bullish. It’s important for that ETHnot to close today’s candle below $ 4,000 in order to maintain this trend.

Short-term price forecast for ETH

ETH is trying to reverse the downtrend and the signs are positive so far. If price action and momentum continue to rise, ETH could quickly encounter the next major resistance at $ 4,435. ETH needs to break this resistance to regain confidence in the market that has been shaken in the past two weeks.

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Source: Crypto News Deutsch

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