Is a break necessary? – The price of Bitcoin experienced bearish volatility last night, sellers won the battle for $44,000. The price fell towards $40,000 before recovering and returning to the $42,000 level. For its part, Ethereum continues to evolve above $2,000, it even took the opportunity to close the week at $2,350. Is this fall experienced last night healthy? Or are sellers taking back control? We take stock of the technical situation of ETH.
This analysis of the Ethereum price is offered to you in partnership with CryptoTrader and its algorithmic trading solution finally accessible to individuals.
Ethereum price falls almost 4% in 24 hours
Shortly after the weekly close at $2,350the price of Ethereum fell below $2,200. In fact, the course displays a drop of almost 4% in 24 hours :
Despite this drop, the price is atbalance in a weekand shows an increase in 10% in one month. The ETH/BTC pair falls1% in 24 hoursand of 2% in one week.
Ethereum price stuck at resistance level at $2,400
Despite this bearish volatility known last night, ETH remains relatively solid. Indeed, the price continues to display rising lows and highs on a weekly basis, and the buyers keep control :
Recently, the course has stuck at the $2,400 levelthen he closed the week at $2,350. The price could react at the level of support at $2,100and return to the level of the resistance at $2,400. On the other hand, a loss of support at $2,100 could bring the price back to the level of the next support located at $1,930.
The RSI displays a bullish momentum weekly, the buyers have their hands on momentum in this unit of time.
Buyers must defend latest low at $2,220 in 4H
For the moment, the momentum is bullish on Ethereum. In fact, the course experienced bearish volatilitybut he managed to maintain the last low marked at $2,220 :
If buyers continue to defend this levela return to the resistance at $2,320 is possible. On the other hand, a break of $2,220 could send the course to the next level support located at $2,100. The RSI is bearishTHE sellers benefit from short-term momentum.
The price of Ethereum fell last night, but it is settled above $2,100. Weekly, as long as this level is maintained, a return to the resistance level at $2,400 is possible. Buyers will have to continue to defend the last low marked at $2,220 to avoid marking a 4H high. While the price has exploded upwards in recent weeks, the SEC is further delaying its decision regarding an Ethereum spot ETF.
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