Ethereum Price Analysis: eth goes back to the drawing board, can it hold $ 3000?

The price of Ethereum gradually fell to $ 3000 as the MACD signaled a sell-off.
The Supertrend indicator sees a bearish signal, adding confidence to a pessimistic forecast.
A solid support of $ 3,000 would prevent potential losses of up to $ 2,800, which would result in an attempt to recover up to $ 4,000.

The price of Ethereum continues to lose more ground in mid-trade this week. Previously, the giant icon of the smart contract exceeded $ 3300, but created a $ 3,350 hurdle that reduced efforts to rise. Understand that ether needs to reduce sellers ‘continuous workload from $ 3,400 to make a profit of up to $ 4,000.

ETH, meanwhile, is trading decidedly at $ 3025 after backing up $ 3000. Sustaining that support could eventually reverse downtrend calls of up to $ 2,800 and possibly continue the upward trend.

Ethereum Price Covers Increased Pressure October Overhead
According to the daily chart, the Moving Average Convergence Divergence (MACD) is on a downward trend, adding weight to expected losses below $ 3,000. The sell-off signal came on Tuesday, when the 12-day exponential moving average (SMA) surpassed the 26-EMA.

Ethereum will continue to fall until the MACD returns to the midline. Traders October also expect an increased discrepancy between EMA, which means increased overhead.Dec.

Daily ETH / USD chart

ETH / USD price chart from TradingView
The Relative Strength Index (RSI) shows that the Bears are in the cockpit, highlighting the effects of movement below the midline.

At the same time, the Supertrend indicator recently added confidence to its downgrade history by urging ETH to sell. This technical tool tracks the Ethereum Price as a moving average. However, it measures volatility by taking into account the average actual December (ATR) in its calculations. In response, a trading signal is sent to help traders determine their entry and exit positions.

Eth / USD 4-hour chart

ETH / USD price chart from TradingView
Sales signal, t

Join the Discussion

  • BrokerEUR/USD
    CMC Markets 0.7pips. (variable) margin: 3.33%
  • Back to top