Sunday , November 24 2024
Home / Crypto news / Ethereum Price Analysis: ETH Collapses to $2.5K, Where to Next?

Ethereum Price Analysis: ETH Collapses to $2.5K, Where to Next?

Summary:
Key Support levels: ,500, ,200 Key Resistance levels: ,800, ,000 The correction appears to have ended, at least in the short term, with the price touching the key support at ,500. Now there is a worthy attempt to go higher towards the key resistance at ,800. After closing in red for six consecutive days, ETH may finally have a green one. Chart by TradingViewTechnical Indicators Trading Volume: Today’s volume is rather weak. If the reversal is to be trusted, then the volume has to go up too. RSI: The daily RSI is curving up after making a lower low. The question is if the price can move above 50 points where it will face resistance. MACD: The daily MACD histogram is showing a loss of momentum on the seller’s side. This is encouraging, and ETH may attempt a short

Topics:
Duo Nine considers the following as important: , , ,

This could be interesting, too:

Mandy Williams writes Retail Investors Persist in Holding ETH Despite Asset’s Recent Surge: CryptoQuant

Martin Young writes Ethereum’s Modular Strategy: Short-Term Pain, Long-Term Gain, Says Research

Chayanika Deka writes Ethereum Foundation Resumes ETH Selling Amid Price Rally

CryptoVizArt writes Ethereum Price Analysis: ETH Reclaims Crucial Resistance, How High Can it Go?

Key Support levels: $2,500, $2,200

Key Resistance levels: $2,800, $3,000

The correction appears to have ended, at least in the short term, with the price touching the key support at $2,500. Now there is a worthy attempt to go higher towards the key resistance at $2,800. After closing in red for six consecutive days, ETH may finally have a green one.

ETHUSD_2022-02-22_16-57-56
Chart by TradingView

Technical Indicators

Trading Volume: Today’s volume is rather weak. If the reversal is to be trusted, then the volume has to go up too.

RSI: The daily RSI is curving up after making a lower low. The question is if the price can move above 50 points where it will face resistance.

MACD: The daily MACD histogram is showing a loss of momentum on the seller’s side. This is encouraging, and ETH may attempt a short rally towards $2,800 soon.

ETHUSD_2022-02-22_16-58-09
Chart by TradingView

Bias

The current bias for ETH is neutral. If ETH closes today’s candle in green, then buyers may have reasons to celebrate soon.

Short-Term Price Prediction for ETH

The cryptocurrency appears to be at the end of its correction, and a relief rally seems likely. The critical support at $2,500 was successfully tested, and the price may move higher from here. The resistance at $2,800 is the biggest obstacle at this time.

About Duo Nine

Leave a Reply

Your email address will not be published. Required fields are marked *