Home Ethereum Price Analysis ETH/USD Ethereum (ETH) Price Analysis: ETH Touching New Low Levels Of 2020 Presenting...

Ethereum (ETH) Price Analysis: ETH Touching New Low Levels Of 2020 Presenting Buying Opportunity

  • The bears are showing no mercy for ether price as it is reaching the crucial level of $100
  • Ethereum trading price facing significant overall loss in today’s market of -17.30%
price
Source: coinmarketcap

On the 7day-weekly chart, ether started off by breaking below the crucial level of $200. The overall downtrend in the market indicated that it will be facing negative momentum in the market for a while. However, no one expected that the downfall will be so significant that ether will be facing a critical price level of $100.

Ether broke the crucial level of $100 on 12th March 16, 2020, but suddenly had a positive push by the strong support level of $98.00. The price level reaching below $100 for ether can result in a major downfall for the cryptoasset.

Another bearish aspect for ether is continuous declining market capitalization and volume traded. During the price recovery stage at the end of February, ether was at the price level of $245. The market capitalization and volume traded were $26 billion and $24 billion respectively. However, now the market cap and 24h volume traded is $12 and $13 billion respectively.

Another fall below the price level of $100 will weaken the support level of $98.00 and the cryptoasset may plunge more this time. However, after breaking below the price mark of $110.00, ether is reviving its buying volume.

Ethereum Technical Analysis

Screenshot (77)
Source: tradingview

The technical chart indicates that the level of $100 can be a good buying opportunity for investors. Also, the fib retracement level is below 0.236 and ether have always bounced back after touching that low level. This can be a positive sign for ether for ethereum price recovery.

The MACD levels also show that ether is getting buying volume after breaking below the price level of $110. The buying volume also attempted to reach the bullish zone but was unsuccessful. However, this has indicated that ether is now capable of starting a positive movement in the market

The 24hr-RSI also avoided a negative divergence to the oversold region by reaching the depth of the normal territory. The positive divergence might help RSI to reach the level of 40.

The 24hr-CCi has been extremely volatile in today’s market. After touching the peak of the overbought region, it had negative divergence to the normal region which forced it to reach an oversold zone. However, it is still showing a positive trend and might reach a normal region again.

Resistance level: $120
Support level: $100 and $86

Download our App for getting faster updates at your fingertips.

en badge web generic.b07819ff

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.

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners

Must Read

Airbnb plays blockchain popular expression bingo in $ 1B IPO documenting with SEC

Crypto firms are genuinely attempting to restore the gravely hit travel area utilizing conveyed record innovation. The record rolls out an elite of...

The Cryptocurrency Mining Equipment market is skyrocketing

Stratagem Market Insights added an overview of the Cryptocurrency Mining Equipment MarketThe insider report covers various aspectsDifferent methodology to study the competitive...

Bitcoin Cash Under Pressure Slips -0.95% After Split Into Two Blockchains While BCHA Emerges as Positive Performer

Bitcoin Cash builds the Symmetrical triangle pattern, on daily chart faced rejection from the resistance and bounces from the support line  The pair...

What is the Next Move of Ethereum Retracing From Resistance of $495.00?

Ethereum consolidating between the range of $445 to $490 after making a new 52-week high of $492 trading at the mark of...

Billionaire Boss of World’s Largest Hedge Fund Warns Bitcoin Will Be ‘Banned’

The bitcoin cost has taken off as its standing as a possible fence against swelling has developed.  Bitcoin has somewhat broken out of...

XRPL labs soon to release the productive version of XUMM

The last beta version of the XUMM application has been releasedDevelopers have fixed all the bugs in the XUMM applicationXUMM can build...

Related News

What is the Next Move of Ethereum Retracing From Resistance of $495.00?

Ethereum consolidating between the range of $445 to $490 after making a new 52-week high of $492 trading at the mark of...

Ethereum Enters Critical Resistance Zone With Bullish Move Needs to Show Sustainability

Ethereum is finally into resting the critical resistance zone lying around $480.00 to $490.00 with a weekly gain of 4.00%However, the ETH/BTC...

Is Ethereum Ready to Participate in Bull Run Standing at $400?

Ethereum bounced from its support of $375 and had a positive breakout from the falling channel pattern formed over the monthly chartThe...

Can Ethereum Test the Mark of $350 in Coming Days?

Ethereum turns bearish after testing the major huddle of fib level 0.618($420), CMP at $380.38 with the loss of -2.38% in the...

Ether Climbs To $375.00 As Overall Market Conditions Turns Bullish

The positive move for Ether is back as it reached the support level of $360.00 during its downturnThe ETH/BTC pair is also...