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Ethereum Price Analysis: Is ETH Ready for a Decisive Break Above $2K?
Ethereum has been going through a terrible period of depreciation, as the price has been consistently making lower highs and lows. Yet, things might just be about to change.On the daily chart, ETH has been in a strong downtrend, breaking below the critical 200-day moving average and losing multiple key support zones. Prices have recently bounced from the $1,900 demand zone but face resistance near the $2,100 level.
The 200 DMA, currently above $2,800, adds additional overhead pressure, making recovery attempts challenging. Meanwhile, the RSI is climbing from oversold territory, indicating potential short-term relief. However, unless ETH regains the $2,400 area and the 200-day moving average, the broader trend remains bearish.
ETHUSD – Ethereum
This coin behaved perfectly technical so far – after very sharp drop of almost 50% it bounced strongly of the long term support line .
Pattern still suggests more downward pressure and tests of the supports, but as long as 2.190 holds on there is a good probability of renewed Up trend.
I would like to warn you all that time wise it might take another month, unless some news/data sparks immediate interest.
XRPUSD
XRP Stronger Than Everyone: 2.2 Million Transactions
As the most successful cryptocurrency, XRP has maintained its position as the most reliable asset on a market that is prone to volatility. At $2.03, XRP has risen 10.6% in the last week, surpassing Bitcoin, Ethereum and Binance Coin, which are suffering losses ranging from 4% to more than 8%.
XRP is consolidating within a bullish triangle pattern, with resistance at $2.50 and immediate support at $2.20. Significant buying interest could be generated by a breakout above $2.50, which could lead to $3.00, a crucial psychological level.The downside is that a retracement toward $1.90 might occur if the $2.20 support is lost.
ETHUSD – Ethereum
Why is Ethereum (ETH) price down today?
Ether ETHUSD price has declined 3.94% over the past 24 hours, its steepest correction since Nov. 14. After retesting its psychological level at $4,000 on Dec. 6, the altcoin is forming another higher low in the charts.Ethereum long liquidations drag price below $3,800
ETHUSD
Ethereum Retraces: Here’s Why ETH Bulls Must Decisively Break Above $3,500
Ethereum Finds Strong Resistance At $3,500Even as buyers expect ETH bulls to press on and push the coin above $3,700, a key resistance line, on-chain data shows that there is resistance. According to IntoTheBlock data on July 22, ETH has strong resistance at $3,500, which has been the case since July 16.
At this level, 3.13 million unique addresses bought ETH at an average price of $3,547. Therefore, if prices trend below this level, these holders are in red and contemplating exiting at a loss.
The fact that some addresses could be willing to dump and exit the market when prices fall makes the general environment fragile, a considerable hindrance to the upside. This makes the situation even dire, considering that ETH is not all that firm despite the expansion of July 15.
