The ETH price has dragged to its round level support zone of $3000 and is delivering short buildup for the past sessions. Moreover, the chart displays a bearish pennant pattern replicating the lower top and lower bottom swings. If the trendline support zone of $3000 is breached, the coin may extend the downfall and may retest the $2500 mark ahead. Conversely, the $3000 mark is the key support zone, where buyers have maintained a grip and are attempting a pullback.
At press time, the Ethereum coin (ETH) price traded at $3029.10 with an intraday
drop of 0.58%, reflecting neutrality on the charts. It has a monthly return ratio of -16.24% and 45.30% on a yearly basis. The pair of ETH/BTC is at 0.0487 BTC, and the market cap is $370.40 Billion. Analysts are bullish and suggest that the Ethereum price may find support near $2700 – $2900; a pullback is likely soon.
ETH Price Volume Profile On Daily Chart
The above chart displays the price volume profile of the Ethereum (ETH) crypto showcasing a retracement over the last few sessions. Amidst the global market negative sentiment and panic selloff in the market, the ETH coin held the gains, retracing merely 16%. The intraday trading volume dropped over 33.29% to $13.01 Billion.
Price Volatility and MVRV Ratio Overview
Amidst the range bound move, the coin displays a massive pump and dump move in the price volatility curve this week. The price volatility curve noted a decline over 43.90% to 0.00754. However, the MVRV ratio noted around -2.02 signifies a neutral price behavior.
Social Dominance X Followers, and Total Sentiment Overview
The social dominance data noted a spike from 2.40% to 7.525%, amid a minimal rise in the discussion reports. However, the X followers’ data reflects a sharp decline and losing over 62.37% to -9302. However, the weighted sentiment value stayed near the midline at -0.227.
Udviklingsaktivitet & Total Open Interest Insights
However, the derivative data reflects short profit booking; the open interest rose over 4.79% to $4.98 Billion in the last 24 hrs.
Per the Fib levels, the ETH price has decisively holding gains above the 38.6% zone and retested the mid bollinger band support zone. However, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts.
Det samlede udbud af ETH-mønten er 122.37 millioner, mens volumen-til-markedskapitalforholdet er 0.0352, og det er rangeret 2 med hensyn til markedsværdi på det globale kryptomarked.
Resumé
The Ethereum coin is trying to settle gains near its round level support zone of $3000 and is hovering around the 100 day EMA. However, the sellers are looking confident and are eager to break the zone to initiate a downfall ahead.
Tekniske niveauer
Supportniveauer: $ 2910 og $ 2700
Modstandsniveauer: $ 3180 og $ 3300
Ansvarsfraskrivelse
De synspunkter og meninger, der er angivet af forfatteren eller enhver anden person, der er nævnt i denne artikel, er kun til informationsformål og udgør ikke finansiel, investering eller anden rådgivning.
Amanda Shinoy er en af de få kvinder i rummet, der er investeret til knæet i krypto. Hun er en fortaler for at øge tilstedeværelsen af kvinder i krypto, og hun er kendt for sin nøjagtige tekniske analyse og prisforudsigelse af kryptovalutaer. Læserne venter ofte på hendes mening om det næste stævne. Hun er finansekspert med en MBA i finans. Efter at have afsluttet et virksomhedsjob i en førende finansiel institution, engagerer hun sig nu på fuld tid i finansiel uddannelse for den brede offentlighed.
Source: https://www.thecoinrepublic.com/2024/04/17/eth-price-at-crucial-support-can-sellers-succeed-break-3000/