Facebook X (Twitter) Instagram
    Crypto AcademyCrypto Academy
    • Home
    • News
    • Price Predictions
    • Price Analysis
    • NFTs
    • Learn
    • Press Releases
    • Coins
      • Bitcoin
      • Ethereum
      • Cardano
      • Safemoon
      • Dogecoin
    • Advertise on Crypto Academy
    Facebook X (Twitter) Instagram Telegram
    Crypto AcademyCrypto Academy
    Home»Price Analysis»Ethereum (ETH/USD) Might Fall Into Consolidation as $3,350 Represses Bullish Momentum
    Price Analysis

    Ethereum (ETH/USD) Might Fall Into Consolidation as $3,350 Represses Bullish Momentum

    Granit.MBy Granit.MAugust 18, 20212 Mins Read
    Ethereum ETH/USD Might Fall Into Consolidation as $3,350 Represses Bullish Momentum
    Share
    Facebook Twitter LinkedIn Email Reddit Telegram WhatsApp
    • The market pump has lifted price above the $2,900 for the first time in three months.
    • ETH/USD bullish impulse is repressed at the $3,350 key level.
    • ETH might fall to the support level to move up again to have another go at $3,350.

    ETH/USD might fall into consolidation after its bullish impulse is cushioned at the $3,350 key level. The recent market pump, which started on the 21st of July 2020, has lifted the coin above the $2,900 price line for the first time in about three months. Above the key level, the market has been prevented from punching higher. ETH/USD has thus been forced to divert its momentum into a sideways movement.


    ETH/USD Key Level

    Resistance Levels: $3,350, $3,600, $3,900
    Support Levels: $2,900, $2,400, $2,100

    Ethereum ETH/USD Might Fall Into Consolidation as $3,350 Represses Bullish MomentumETH/USD Long Term Trend: Bullish

    The market has thus far been cranking in a sideways movement for the past 11 days above the $2,900 support. The Parabolic SAR (Stop and Reverse) indicates the market is still full of bullish momentum. It has aligned its dots under the daily candle from the 22nd of July up till yesterday. Currently, the market is trading around $3,000 after a routine fall from the $3,350 key level. The fall has attracted a dot from the Parabolic SAR above today’s candle.

    The Stochastic Oscillator has had its signal lines pushed up into the overbought region of the chart since the market rally began. The latest drop in price from the $3,350 resistance has pulled the blue signal line just below the border of the overbought region. Price might fall to the support level to move up again to have another go at the resistance level.

    Ethereum ETH/USD Might Fall Into Consolidation as $3,350 Represses Bullish MomentumETH/USD Short Term Trend: Ranging

    The fall in price has been vividly reflected on the 4-hour chart. Price is falling hard after it presented a tweezer top candlestick pattern. The Parabolic SAR on the 4-hour chart has 8 dots placed above the daily candlesticks. The Stochastic Oscillator has zigzagged downward until it plunged itself into the oversold region.

    The coin will bounce up from $2,900 to break the $3,350 resistance.

    Also read: 14- and 9-Year-Old Ethereum Miners Earn up to 32k Monthly

    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.

    Previous ArticleHow Did Michael Saylor Become An Influential Person In Crypto?
    Next Article SOLANA (SOLUSD) Price Pulls Back Before Continuation of Bullish Trend

    Related Posts

    XRP Surges Amid IPO Rumors

    Market Uncertainty to Impact Bitcoin (BTC) This Week

    Bitcoin (BTC) Could Bottom at Around $6,000 Before Reversing the Trend

    Crypto Gaming Tokens Bullish in Recent Weeks

    November 29, 2023

    Coinbase Shares Sold by Ark Invest

    November 29, 2023

    First Bitcoin Halving Event Happened 11 Years Ago Today

    November 29, 2023

    Arthur Hayes: The Rapid Expansion of Binance Led to the $4.3B Settlement

    November 29, 2023

    Cristiano Ronaldo Sued For Promoting Binance

    November 29, 2023
    Facebook X (Twitter) Instagram Telegram RSS
    • Home
    • Advertise on Crypto Academy
    • Terms and Conditions
    • Privacy Policy
    © 2023 Crypto-Academy.org. All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version