ETH faces critical resistance at $ 1.7,000, will it break this time? (Ethereum price analysis)

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Von: Krypto News Österreich

Der Kryptowährungsmarkt erlebte nach einem kurzfristigen Kursrückgang eine weitere bullische Rallye. Ethereum war keine Ausnahme, als der Preis anstieg, ein neues Swing-Hoch bildete und derzeit einer erheblichen Widerstandsregion gegenübersteht. Technische Analyse Von Shayan Das Tageschart Nach einem kurzfristigen Rückgang in Richtung des gebrochenen Dreiecksmusters und des gleitenden 200-Tage-Durchschnitts fand Ethereum Unterstützung und leitete eine zinsbullische Rallye ein, wodurch der Rückzug auf das gebrochene Niveau abgeschlossen wurde. Nachdem er drei aufeinanderfolgende starke bullische Tageskerzen gedruckt hatte, erreichte der Preis die entscheidende Widerstandsregion von $1,7.000 und bildete ein höheres Hochmuster bei $1780. Dies deutet darauf hin, dass der Trend bullisch ist. Dennoch …
The cryptocurrency market experienced another bullish rally after a short -term drop in the price. Ethereum was no exception when the price increase, formed a new swing high and currently faces a significant resistance region. Technical analysis of Shayan The daily type after a short-term decline in the direction of the broken triangle pattern and the sliding 200-day average Ethereum found support and initiated an interest bully rally, which has been withdrawn to the broken level. After printing three consecutive Bullische Tagerkerken, the price reached the decisive resistance region of $ 1.7,000 and formed a higher pattern at $ 1780. This indicates that the trend is bullish. Nonetheless … (Symbolbild/KNAT)

The cryptocurrency market experienced another bullish rally after a short -term drop in the price. Ethereum was no exception when the price rose, formed a new swing high and currently faces a significant resistance region.

technical analysis

of Shayan

the daily -type

After a short-term decline in the direction of the broken triangle pattern and the sliding 200-day average, Ethereum found support and initiated an interest bully rally, which completed the withdrawal to the broken level.

After printing three consecutive strong bullish day candles, the price reached the decisive resistance region of $ 1.7,000 and formed a higher high pattern at $ 1780. This indicates that the trend is bullish.

Nevertheless, the $ 1.7,000 region acts as a significant resistance and has rejected the price several times. If the ETH exceeds the level mentioned, an impulsive rally is imminent.

eth_price_chart_1603231 Tradingview

The 4-hour diagram

The price reversal is clearer on the 4-hour time frame chart. The decline of Ethereum was stopped after it reached the lower trend line of the rising channel at $ 1350, which led to a massive increase in price.

However, the price is currently fighting with the middle border of the canal, about $ 1640. If it falls under the trend line, ETH could be a consolidation phase with a slight drop in price.

If the price is supported on the other hand on this level, it will probably start a rally to achieve the level of $ 1.7,000.

eth_price_chart_1603232 Tradingview

on-chain analysis

of edris

Ethereum Taker Buy Sell Ratio (SMA 100)

The Taker Buy Sell Ratio measures whether the bulls or the bears are currently performing their trades more aggressive. Values ​​over one indicate a dominant purchase pressure, while values ​​under 1 are associated with a negative mood.

This key figure has decreased in the past few weeks and has recently fallen below 1.

This behavior indicates that the bears are currently more aggressive and that the mood on the appointment markets has decreased, which could lead to a decline at short notice.

If the Taker-Buy-Sell ratio continues, the market could enter into another declining phase and the bear market could be extended.

eth_tiker_buy_sell_ratio_Chart_1603231 Cryptoquant

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