Ethereum Price Analysis: ETH Framed A Record High Of $2152

ETH surged from the support of $1800
  • Ethereum price surged from $1800 to $2102 on Saturday’s trading session
  • The 24-hour volume in ETH is at $32,314,548,970 with an 1.42% increase
  • The ETH/BTC pair was trading at 0.03544 BTC with a gain of 5.86%

The 4-hour technical chart of Ethereum price action forecasts a positive trend. According to pivot points, ETH’s critical support level is placed at $1800. While diving into the weekly chart of a 4-hour time-frame, it completes a dark cloud cover candlestick pattern representing a bearish trend with medium reliability.

EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) intersects above the EMA-55 (red), which projects a strong bullish trend. The price is also above all the EMA’s. Investors may perceive a positive crossover in the EMA, and the price will also follow the positive trend.

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RSI indicator (OVERBOUGHT), with a value of 75.60, indicates an overbought situation in the coin. Moreover, Investors can see a downward slope from 85 to 75 in the index, and it may cool down in future trading sessions.

Increase Of Large Transactions Volume In USD

Source: Intotheblock

Intotheblock labels as large transactions those onchain transactions where an amount greater than $100,000 USD was transferred. These act as a proxy to institutional players’ and whales’ activity, pointing to how they may be investing and positioning. The 7-day low is $3.07 billion on March 28, 2021. Moreover ETH made a 7-day high of $20.42 billion on April 02, 2021 which is 666% surge in the number of large transactions above $100K USD.

Ethereum Price May Cool Down From Here

Ethereum price traded at $2102 with a gain of 5.44% in the last 24-hour and 24.24% up in the weekly time-frame. Furthermore, ETH surged from the support of $1800. In contrast, the market capitalization stands at $243 billion. Technically, investors can perceive a positive crossover in EMA. Moreover, the price movement can be neutral in future trading sessions.

Support: $1800

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Nikhil Ingole
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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