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- 1 ETH price showcased a rebound from the 50-Day EMA mark near $3200.
- 2 Bulls are attempting a significant reversal to retain the $4000 zone.
The Ethereum coin (ETH) price has retraced over 25% from the round mark of $4000 and witnessed profit booking in the past week. Moreover, the price action shows that Ethereum price has taken support on the 50% Fibonacci support zone and a pullback was triggered in the intraday session. However, the mighty bulls must hold the 50-Day EMA to prevent any further selloff. Until the $3000 mark is not breached by the sellers, the trend will remain bullish and the rally will resume in the next few sessions.
At press time, the Ethereum coin (ETH) price was trading at $3279.10 with an intraday gain of 0.67%, reflecting neutrality on the charts. It has a monthly return ratio of 14.89% and 89.23% on a yearly basis. The pair of ETH/BTC is at 0.0516 BTC, and the market cap is $401.08 billion. Analysts are bullish and suggest the ETH coin may continue to replicate outperformance in the next few sessions.
Ethereum Price To Volume Profile Showcasing Retracement
After delivering a much awaited rally and a notable surge of over 65% last month, investors are now booking their profits, which led to a price retracement this week. However, the trend is still bullish and a bounce is anticipated shortly. The ETH coin has noted higher high and higher low swing, and has taken support on the 50-Day EMA mark in the previous session. The trading volume remained average and surged over 5% to $27.89 Billion in the last 24 hours.
Price Volatility Skyrocketing, Sentiment Remain Neutral
The above data reveals a massive incremental move in the volatility curve, which has spiked over 200% to 0.058 this week. This sharp volatility revealed the investor interest and massive trading activity. However, the weighted sentiment remained neutral and the curve shows a steady move and is staying close to the midline of 0.016.
What Does Gas USed Data and Liquidity Deposits Show?
Per the Santiment data, the gas used data remained average around the value of $11.24, revealing a stable outcome for the transactional work. However, the liquidity deposits dropped over 1.26% to 3 this week. Additionally, the weekly active addresses value was noted at 2.88 million.