Crypto NewsEthereum (ETH)

Ethereum Reclaims $1,000 But Is The Worst Over?

                                                            Ethereum  kämpft in einer bedeutenden Unterstützungszone.  Bisher wurden alle Versuche eines Aufwärtstrends in den unteren Zeiträumen verworfen.

This is what awaits you in this article

Technical Analysis

Technical Analysis of Grizzly

The daily chart

On a daily basis, the bulls have defended the $900 support zone. This level can be expanded to a range between $900 and $700 (in green). The price is moving in a descending channel (in yellow) and has touched the low band.

It should be noted that if sellers increase their pressure, it is possible for ETH to rally back to the bottom of the channel (~$700) in the coming weeks. On the other hand, the start of an uptrend requires the horizontal one Resistance to break out at $1300 and move towards $1700. Breaking this last level would also be required to reverse the trend.

Key support levels: $900 & $700
Important resistance levels: $1300 & $1500 & $1700
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Moving Averages:
MA20: $1392
MA50: $1793
MA100: $2432
MA200: $3044

The ETH/BTC-Diagram

The course is currently fighting against BTC with the first Fibonaccilevel at 0.236, which is at 0.0557 BTC. The support zone is considered in the range of 0.05 to 0.045 BTC. The release of fundamental news like the merge event could probably convince buyers to enter the market, but until then, it’s difficult to tell cryptocurrency see clear progress.

Key support levels: 0.050BTC & 0.0.045BTC
Important resistance levels: 0.055BTC & 0.06BTC
Ethereum Reclaims $1,000 But Is The Worst Over?, Crypto Trading News TradingView

On-Chain Analysis

Exchange net flow (total)

In this chart it is clear that buyers cannot yet dominate the market. Inflows into the stock exchanges are still high, which has led to an increase in foreign exchange reserves, which is consequently accompanied by selling pressure. When consecutive red histogram bars appear on the chart, it can be assumed that the bulls have taken control of the market.
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Source: Crypto News Deutsch

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