ETH is facing great resistance, are the next $ 1600 or $ 2000? (Ethereum price analysis)

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Von: Krypto News Österreich

Der Preis von Ethereum hat sich in der vergangenen Woche konsolidiert, da der Preis darum kämpft, einen wichtigen Widerstandsbereich zu durchbrechen. Hat die ETH eine lokale Spitze markiert? Technische Analyse Von: Edris Der Tageschart: Im täglichen Zeitrahmen ist der ETH-Preis in letzter Zeit über das symmetrische Dreiecksmuster und über die gleitende 50-Tage-Durchschnittslinie (um die 1600 $-Marke) gebrochen. ETH handelt jedoch innerhalb einer sehr engen Spanne oberhalb des gebrochenen Dreiecks und muss noch zuversichtlich über die 1800-Dollar-Marke brechen. Wenn der Markt versagt, könnte ein Pullback in Richtung des 50-Tage- und sogar des gleitenden 200-Tage-Durchschnitts erwartet werden, der sich um die 1600-Dollar- …
Ethereum's price consolidated in the past week because the price is struggling to break through an important resistance area. Did ETH mark a local tip? Technical analysis of: EDRIS DER TARTAGE: In the daily time frame, the ETH price has recently broken over the symmetrical triangle pattern and over the sliding 50-day average line (around $ 1600 mark). However, ETH acts within a very narrow span above the broken triangle and still has to break confidently over the $ 1800 brand. If the market fails, a sweater could be expected in the direction of the 50-day and even the sliding 200-day average, which is around $ 1600 ... (Symbolbild/KNAT)

The price of Ethereum has consolidated in the past week because the price is struggling to break an important resistance area. Did ETH mark a local tip?

technical analysis

by: edris

the daily type:

In the daily time frame, the ETH price has recently been broken via the symmetrical triangle pattern and via the gliding 50-day average line (around $ 1600 mark). However, ETH acts within a very narrow span of the broken triangle and still has to break confidently over the $ 1800 mark.

If the market fails, a pullback could be expected towards the 50-day and even the sliding 200-day average, which is around $ 1600 or $ 1400. On the other hand, a valid breakthrough via the $ 1800 mark could lead to another short-term rally-initially with the aim of reaching the $ 2,000 brand for the first time in 2023, and then another destination in the area of ​​the $ 2300 brand.

The 4-hour diagram

On the 4-hour chart, consolidation becomes clearer, since the price of the resistance mark of $ 1800 has recovered. The RSI indicator has been showing a clear declining divergence signal for some time that could indicate a sweater in the coming days.

In this case, the $ 1650 mark could be tested again as support, followed by the $ 1500 mark. However, it is still too early to predict whether the upward trend will continue or reverse, since the market has to decide in view of the resistance of $ 1800.

an-chain analysis

from: Edris

Ethereum-Open-Interest

The price of Ethereum has increased steadily in recent months after moving around the support brand of $ 1,000. However, the appointment market behaves very differently than in previous years when the market experienced short -term rally during the recent Baisse.

The open interest metric (OI) measures the daily number of open futures contracts and is a practical indicator for evaluating the futures market mood. In general, high volatility and declining reversations are followed by increasing open interests. However, the open interest has remained relatively low during the youngest rally.

As a result, the upward trend could still stop, since the likelihood that long liquidation cascades will occur at short notice is lower. Note - the spot market should also be considered for more precise forecasts.

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