- Ether current price performed with a negative momentum on Friday’s trading session
- Ether current price is $1204.04, which is down by 2.14% in last the 24 hours and 2.60% down from the previous week
- ETH/BTC pair also performs positive with a gain of 4.59% in Friday’s trading session (0.037678)
Ether current price had negative momentum on the weekly chart and went up to $1432.30 on January 19, 2021, by breaking above the resistance zones created in the past. DOT price set up a mark of 52-week high with the help of overall market conditions. The DOT/BTC pair is in an uptrend with a value of 4.59% in Friday’s trading session (0.037678).
Ether Technical Chart Indicates Bearish Momentum
The technical chart of Ether current price highlights a negative trend due to overall market conditions on Friday’s trading session. The price is currently sitting at $1204.04, with a resistance zone of $1324.16, following the support zone of $1014.50. On diving into the weekly chart of a 30-minute time frame, it forms a bearish engulfing candlestick pattern, indicating the bears have overwhelmed the bulls and are now in control.
The Volume indicator of value (52.463K) reflects a moderate buying volume in the coin with the overall market’s help. We can further see a decrease in buying volume in the next few trading sessions.
MACD indicator (Bearish), no bullish crossover signal line is spotted on January 22, 2021, during the trading session indicates a sell signal in the coin and also denotes massive red bars in the Histogram.
Meanwhile, the RSI indicator (Bearish) with a value of 46.02 indicates a sell signal in the coin. It may soon move towards the neutral zone if buying increases in the coin.
Conclusion
Ether current price is down by 2.14% on Friday’s trading session. The price is below both the EMA may recover for a while till the 20 EMA of $1243.13. If it sustains above both the EMA, it can move towards the resistance, and one can further expect a bullish trend in the coin till the resistance level of $1324.16, but if it slips below it may fall towards the support level of 1014.50 in the upcoming trading sessions.
Resistance: $1324.16
Support: $1014.50
