ETH consolidates with critical resistance of $ 1.6,000, what's next? (Ethereum price analysis)
ETH consolidates with critical resistance of $ 1.6,000, what's next? (Ethereum price analysis)
The price of Ethereum has recorded a significant increase and finally exceeded the upper border of the canal. Nevertheless, the cryptocurrency of a critical resistance zone is approaching, and if there is an outbreak, an impulsive upward trend would be more likely.
technical analysis
of Shayan
the daily -type
The price of Ethereum has experienced an upward trend since it broken through the sliding 50 and 100-day average lines and has currently reached the critical resistance zone of USD 1.6,000
This price region consists of two decisive level of resistance; The static resistance level of $ 1.6,000, which has served as a robust barrier for the price in the past few months, and the previous big high of the price at $ 1680, which typically serves as a resistance in an upward trend.
Overall, it could be quite a challenge to drive the price over this important level of resistance, and if this succeeds, the market could possibly explode.
In view of the entry of the course in the overbought area of the RSI indicator, however, short-term consolidation before the next impulsive movement could be possible. Tradingview
The 4-hour diagram
In the 4-hour period, the price has formed higher highs and higher lows, which is a typical bullish sign. However, the cryptocurrency has also entered short -term consolidation and has achieved the resistance mark of $ 1.6,000.
Ethereum seems to have gained enough momentum to overcome the resistance zone of $ 1.6,000. Nevertheless, the existing declining divergence between the course and the RSI indicator could stop the current upward trend at short notice and lead to a correction phase with low volatility.
Tradingview
Auf-chain analysis
from: Edris
Ethereum Taker Buy Sell Ratio (SMA 100)
The price of Ethereum has been significantly influenced by the appointment market in recent years.
This diagram represents the buyer-purchase sales ratio, with a sliding standard average of 100 days being used. This ratio shows whether the bulls or the bears carry out their trades more aggressive, with values above 1 to indicate a bullish and under 1 in a bearish mood.
This key figure has increased in the past few weeks, which indicates a positive shift in the appointment atmosphere, followed by a recent price increase.
While the key figure is currently above 1 and tends upwards, a trend reversal probably indicates the possibility of a declining reversal and should be observed closely at short notice.
Cryptoquant
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