Crypto NewsEthereum (ETH)

ETH at the critical decision point before a possible big move

                                                            Am Samstag unternahmen die Bullen einen weiteren Versuch, den ETH-Preis ohne Erfolg auf über 4.000 USD zu drücken.  Nachdem die ETH unter $4.000 gefallen war, wurde letzteres zur Hauptfrage für die Entscheidung Ethereum's kurzfristige Zukunft.

Major support levels: $ 3,700

Key Resistance Levels: $ 4,000, $ 4,435, $ ​​4,868 (ATH)

ETH tries to halt the downtrend and curled up above the support at $ 3,700, which has created long wicks down the past week (this shows that there is demand at lower levels).

Yesterday, the ETH tried to do the resistance has become support of USD 4,000, but the attempt was quickly rejected. Recent price promotions show a desire to return over $ 4,000, which is still the key level for ETH.
Chart according to TradingView

This is what awaits you in this article

Technical indicators

Trading Volume: The volume has remained constant. This can be “the calm before the storm” and signal an enormous price movement (on both sides).

RSI: The daily RSI is flat but hit higher lows last week. However, the bullish momentum is simply not there to successfully break out of the current consolidation area.

MACD: The daily MACD curves up and the histogram makes higher lows. If this is held in the coming week, the MACD could make a bullish crossover. This may be delayed if ETH is again sharply rejected by the USD 4,000 key resistance.
ETH at the critical decision point before a possible big move, Crypto Trading NewsChart according to TradingView

Bias

The bias for ETH is neutral. Neither buyers nor sellers have the upper hand, leaving ETH to strike a balance of just over $ 3,700.

Short-term price forecast for ETH

ETH seems to be in a crux or at a decision point. The dissolution of the current price action is likely to result in a violent volume explosion as ETH pulls away from current support or resistance consolidation levels. By the time that happens, expect ETH to barely hit the $ 4,000 mark.

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Source: Crypto News Deutsch

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