bitcoinBTC/USD
$ 19,187.95
ethereumETH/USD
$ 1,070.78
tetherUSDT/USD
$ 1.00
cardanoADA/USD
$ 0.451813
xrpXRP/USD
$ 0.322541
usd-coinUSDC/USD
$ 1.00

Ethereum (ETH/USD) Fails to Climb Above $3,350

Ethereum ETH/USD fails to climb above $3,350
  • ETH/USD fails to climb further upwards after hitting the $3,350 key level.
  • The market has continued trading in consolidation.
  • Ethereum is predicted to fall to $2,900, from where it will bounce up again.

ETH/USD fails to climb further upwards after hitting weekly resistance at the $3,350 key level. Ethereum has been very bullish in recent times, thanks to the pump that started on the 21st of July 2021 at $1,700. The upward run was such that the coin displayed a bearish candlestick only twice during the whole rally before the market ascended above the $2,900 key level.


ETH/USD Important Zones

Resistance Zones: $3,350, $3,600, $3,900
Support Zones: $2,900, $2,600, $2,350

Ethereum ETH/USD fails to climb above $3,350ETH/USD Long Term Trend: Ranging

A similar rally was experienced earlier in the year when the coin started from around the same price level of $1,700. However, unlike the current rally, the price has some stops along the road on its upward climb – first at $2,100, and then at $2,600. When price retraced below $2,600, after some struggles, Ethereum shot up directly from the $2,350 support to reach the all-time high, though the coin stuttered a bit at $3,350.

Upon ascending to the $3,350 price level, ETH/USD has met very strong opposition which has prevented its upward climb. The market has been trading so far in its rallying movement in the upper half of the Bollinger Band. But with the continuous sideways movement, price is ready to climb down to the lower half of the Bollinger Band. The Stochastic Oscillator shows the market is gradually dropping from the overbought region. This depicts reducing bullish momentum.

Ethereum ETH/USD fails to climb above $3,350ETH/USD Short Term Trend: Bearish

On the 4-hour chart, the coin can be seen tapering down an ascending triangle and breaking to its downside. Consequently, the market has continued moving in a consolidation. Ethereum has moved up again to confront $3,350, but price has been repelled once again. The Stochastic Oscillator shows a sharp dip in price from the overbought region and around the oversold region. As things stand, bears have the upper hand. ETH is predicted to fall to $2,900, from where it will bounce up again.

Also read: Microsoft: Key to Battling Piracy is Rooted in Ethereum Blockchain

Note: Crypto-academy.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Also read:

Related News

Will KuCoin Token Reach $100 in 2022 – KuCoin Price Forecast

KuCoin is a popular cryptocurrency exchange because of its cheap fees and extensive range of features. The platform allows you to trade in futures and margin products, using a vast variety of tokens to pick from. The crypto exchange also has a native coin KuCoin Token (KCS). KuCoin’s numerous features, low costs, and wide range of cryptocurrencies make it a great choice for experienced cryptocurrency traders. But what about its

Read More »
Ethereum Price Prediction May 2022: Will ETH Reach $5,000 in May?

Ethereum Price Prediction May 2022: Will ETH Reach $5,000 in May?

ETH Technical Analysis – May 2022 Ever since hitting an all-time high in November of 2021 at around $4,800, the price of Ethereum (ETH) has been in a downtrend. Initially, the price declined by around 26%, and ETH ended the year at $3,500. That bearish momentum continued in January as well, where ETH declined by almost 45% in January alone. However, ETH managed to find support at $2,160, which then

Read More »
Bitcoin Price Prediction May 2022: Will BTC Reach $100,000 in May?

Bitcoin Price Prediction May 2022: Will BTC Reach $100,000 in May?

BTC Technical Analysis – May 2022 Ever since Bitcoin (BTC) reached its all-time high in November of 2021 at around $69,000, the price has been in a downtrend. The price initially declined by more than 30%. BTC ended the year at around $50,000.  In 2022, BTC maintained that similar approach, where the price declined by an additional 35% in the first few weeks of the year. After finding support at

Read More »

My Coins

bitcoinBitcoin
$ 19,187.950.3%
ethereumEthereum
$ 1,070.781.04%
cardanoCardano
$ 0.4518130.42%
tetherTether
$ 1.000.03%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org