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Заголовок Ethereum Price Analysis: Is $2.7K ETH’s Next Target After Gaining 6% Daily?
Дата 20240919

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Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price Analysis: Is $2.7K ETH s Next Target After Gaining 6% Daily?

Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price Analysis: Is $2.7K ETH s Next Target After Gaining 6%
Daily?

Author: CryptoVizArt

Last Updated Sep 19, 2024 @ 14:34

On a larger scale, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s price has been declining, almost clearing all of
its gains since the beginning of 2024.

Yet, things might be about to change soon, which was hinted at in the
developments in the past 24 hours.

Technical Analysis

By Edris Derakhshi (TradingRage)

The Daily Chart

On the daily chart, the asset has been consolidating in a wide range between
the $2,100 and $2,700 levels as the drop has seemingly come to a halt.
However, the market structure remains bearish, as the price should at least
reclaim the $2,700 level to make a higher high.

Meanwhile, looking at the recent range, the recent movements seem to indicate
the formation of a price bottom. So, while too soon to anticipate, a new
uptrend seems probable in the coming months. This is, of course, if the $2,100
support level remains intact.

The 4-Hour Chart

The 4-hour chart presents a more clear demonstration of the recent price
action. As evident, the market immediately bounced from the $2,100 support
zone and has been gradually climbing since.

While the momentum is still weak, it could only be a matter of time before an
impulsive move toward the $2,700 resistance level occurs, as the bullish
4-hour candles have been getting stronger recently.

Sentiment Analysis

By Edris Derakhshi (TradingRage)

Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Exchange Reserve

While Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s price seemingly creates a bottom based on technical analysis,
a worrying signal arises from on-chain analysis. This chart presents the
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum exchange reserve, the total amount of ETH held in exchanges. The
metric is a proxy for supply, as these coins can be sold anytime and add to
the selling pressure.

As the chart displays, the overall trend for the exchange reserve metric has
been downward, as investors have seemingly been accumulating on aggregate
since last year. However, short-term fluctuations also matter, as each time
the exchange reserve has risen above its 30-day moving average recently, a
price drop follows it.

The same behavior is occurring, as the exchange reserve has been rising
recently and is already above its 30-day moving average. Therefore, a further
price drop is still possible in the short term if sufficient demand is absent
to meet the supply.

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Cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта charts by TradingView.

Tags: Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) Price

============= Итог: 1,9990 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Ethereum


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