Ethereum [ETH] Bulls Defend $2k Despite Sliding From Overbought Conditions

Ethereum [ETH] Bulls Defend $2k Despite Sliding From Overbought Conditions

Ethereum [ETH] has managed to hold its fort above the highly coveted region of $2k after establishing an ATH last week. The world’s largest altcoin has moved to an increasingly volatile zone as it raked in gains of over 17% over the week.

The crypto-asset started the month off on an extremely bullish tone despite hitting a short-term pullback as the surge provided an opportunity for the short-term traders.

At the time of writing, Ethereum [ETH] was trading at $2,083 as it held a market cap of $240 billion. The crypto-asset noted a minor rise of 0.46% over the last 24-hours while registering a trading volume of $26.14 billion.

Ethereum [ETH] Daily Price Chart:

ETH
Ethereum [ETH] Bulls Defend $2k Despite Sliding From Overbought Conditions 1

Ethereum [ETH] has maintained a strong uptrend since the mid-March pullback. The rising volatility could, in fact, push the price of the digital asset even higher.

The 50 DMA [Pink] did outpace the ETH candles briefly before the bulls successfully defended and pushed the price higher. At the time of writing, both the moving averages hovered well below the candlestick arrangement depicting a bullish phase. T

The gauge between the upsloping 100 DMA [Blue] and the 50 DMA, however, appeared to be converging which could signal a potential bearish crossover in the near term if the selling pressure intensifies. This could further trigger ETH’s price test support levels.

ETH2
Ethereum [ETH] Bulls Defend $2k Despite Sliding From Overbought Conditions 2

The Chaikin Money Flow [CMF] was struggling to hold above the zero-line depicting a decline in the flow of capital into the ETH market.

The Klinger Oscillator, however, continued to favor the bulls as buying demand surged.

Having said that, the RSI was turned down from the overbought zone and was currently floating above 63. This was indicative that the sentiment of buying pressure was intact even as Ethereum’s price faltered in the short-term.

If the buyers manage to drive ETH higher, the nearest resistance that the crypto-asset could target was the recently breached $2,140 while support levels for the coin stood untested at $1,782, $1,582 and $1,418 respectively.

Published at Mon, 05 Apr 2021 15:53:41 +0000

ALTCOIN NEWS BITCOIN NEWS BLOCKCHAIN NEWS CRYPTOCURRENCY NEWS ETHEREUM NEWS EXCHANGES NEWS LITECOIN NEWS MARKET NEWS REGULATION NEWS
Gamestop
Important Facts of Gamestop Entering into Cryptomarket
UniFarm
UniFarm Raises $2 Million After Launching Innovative Farming Pool Featuring 17 Top DeFi Projects
XRP, FTX Token, Waves Price Analysis
#HODL #SHILL YOUR SH*T COIN! #SPOTTED! #VIRALS BITCOIN SCAM WATCH FUN QUIZZES
bitcoin-scams
Top 5 Bitcoin Scams you should be aware of!
Instagram Influencer Accused of Scamming Followers Out of $2.5M In Bitcoin Scams
five assorted color cars parked inside room
WHAT WILL YOU BUY WITH YOUR BULL MARKET GAINS?
FAQ'S INTRODUCTION TO BITCOIN INTRODUCTION TO BLOCKCHAIN INTRODUCTION TO CRYPTOCURRENCY EXCHANGES
Cryptocurrency
4 Amazing Perspectives of Cryptocurrency Characteristics, Everyone Should know
How bitcoin Transactions Work
Bitcoin For Beginners: 5 Plus Important Reasons Why You Should Understand The Future Impact of Bitcoin On Society
blockchain
5 Important points about Blockchain, Cryptocurrency, and Bitcoin(Safe or Not)
EXCHANGES WALLETS
coinbase
4 Best Crypto Coins on Coinbase
flat lay gadgets beside bearded man
ULTIMATE LIST : BEST BITCOIN AND CRYPTOCURRENCY WALLETS 2021
person shopping online
2021 BEST BITCOIN AND CRYPTOCURRENCY HARDWARE WALLETS TO STORE YOUR COINS SAFE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.