Ethereum (ETH) Price Analysis: Bulls May Fade Away If ETH Continues Under $275

Must Read

Bitcoin Mixers: The Firewall Protecting Your Crypto Identity

Bitcoin Mixers, in layman’s terms, can be seen as the firewall that protects an individual from having their...

A Ten-Fold Hike In Grayscale’s Investment Flagship: An Analysis On The BTC Trust Fund

According to recent reports, Grayscale BTC Trust fund has undergone a ten-fold increase in assets under management on...

Goldman Sachs’s Decision To Address The Hottest Assets In The Market

Reportedly, the American Multinational Investment Bank, Goldman Sachs plans to include Bitcoin as a significant subject in its...
Capture1
Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Since the starting of the month, ETH has been making failed attempts to cross the major mark of $300
  • If it continues to be under the price of $275, the bears may drop it back to $200.

As the graph indicates, after breaking a $280 mark to reach $300, ETH bulls couldn’t hold up. After reaching $282.50, it faced pricing corrections at multiple times but in a small magnitude.

However, now the crypto market is assuming that ETH has held between $250 and $275 for a longer duration than expected. This may help the bears to pullback the price of the second-largest cryptocurrency in the world to a significant extent.

Currently, Ethereum is at the price of $270.37 with the market capitalization of $29,695,522,987 and the 24H volume traded is $19,565,838,567. The current price of ETH/BTC is 0.027 BTC.

Ethereum has been able to sustain above the support level of $255 but somehow failed to overcome the resistance of $275. It can be said that after performing an increase of a total of 127% from low to high in 2020, Eth is in the phase of consolidation.

Against BTC also, ETH is struggling between 0.0278 BTC and 0.0260 BTC. A break from the price band would help ETH to get out of consolidation.

Source: Tradingview.com

The technical chart also suggests that ETH is having confirmed consolidation with the cyclic upward and downward trend between $255 and $275.

The RSI is currently moving up and is around the level of 55. If RSI tends to move up, it will be a positive sign for ETH bulls.

CCI also faced a negative divergence from the overbought region which also favors the ETH bulls.

MACD levels show that there is a minor bullish pattern building up for ETH in the crypto market.

Resistance Level: $270 and $290  

Support Level: $255 and $235.

Advertisement

Advertisement


Hot News

Bitcoin Mixers: The Firewall Protecting Your Crypto Identity

Bitcoin Mixers, in layman’s terms, can be seen as the firewall that protects an individual from having their crypto transactions used against them. ...

A Ten-Fold Hike In Grayscale’s Investment Flagship: An Analysis On The BTC Trust Fund

According to recent reports, Grayscale BTC Trust fund has undergone a ten-fold increase in assets under management on a year-to-year basis. An investment...

Goldman Sachs’s Decision To Address The Hottest Assets In The Market

Reportedly, the American Multinational Investment Bank, Goldman Sachs plans to include Bitcoin as a significant subject in its latest client conference call. The...

Cardano (ADA) Price Analysis: Is ADA Price Planning To Fall Below $0.50? 

Cardano is facing significant pricing corrections after going below the mark of $0.055  It is facing an overall gain of 2.00% in today’s market...

OmiseGo (OMG) Price Analysis: Coin Listing News Provided A Plastic Bullish Move To OMG

After surging to the price level of $2.20, OMG finally took a negative hit of 12.29%. Another case has been made that how...

Tron CEO Justin Sun Lately Announced The Launch Of Tron 4.0

Tron Founder and CEO Justin Sun set Twitter on fire yesterday through the announcement of Tron 4.0 launch. He mentions that Tron 4.0...

Partners

A Ten-Fold Hike In Grayscale’s Investment Flagship: An Analysis On The BTC Trust Fund

According to recent reports, Grayscale BTC Trust fund has undergone a ten-fold increase in assets under management on a year-to-year basis. An investment...

Goldman Sachs’s Decision To Address The Hottest Assets In The Market

Reportedly, the American Multinational Investment Bank, Goldman Sachs plans to include Bitcoin as a significant subject in its latest client conference call. The...

Cardano (ADA) Price Analysis: Is ADA Price Planning To Fall Below $0.50? 

Cardano is facing significant pricing corrections after going below the mark of $0.055  It is facing an overall gain of 2.00% in today’s market...

OmiseGo (OMG) Price Analysis: Coin Listing News Provided A Plastic Bullish Move To OMG

After surging to the price level of $2.20, OMG finally took a negative hit of 12.29%. Another case has been made that how...

RELATED NEWS

Bitcoin Mixers: The Firewall Protecting Your Crypto Identity

Bitcoin Mixers, in layman’s terms, can be seen as the firewall that protects...

A Ten-Fold Hike In Grayscale’s Investment Flagship: An...

According to recent reports, Grayscale BTC Trust fund has undergone a ten-fold increase...

Goldman Sachs’s Decision To Address The Hottest Assets In...

Reportedly, the American Multinational Investment Bank, Goldman Sachs plans to include Bitcoin as...