Block Journal
No Result
View All Result
  • Login
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
Magazine
Newsletter
  • Trending Now
  • Bitcoin
  • Altcoin
  • Ethereum
  • Analysis
  • Blockchain
  • Metaverse
  • NFT
  • DeFi
  • Web3
  • GameFi
  • ICO
  • Legal
  • Security
Block Journal
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
No Result
View All Result
Block Journal
No Result
View All Result
  • News
  • Crypto
  • Markets
  • Investing
  • Videos
  • Charts
Home Crypto Ethereum

ETH Slips Toward $1.5K But How Much Lower Can it Go? (Ethereum Price Analysis)

News Room by News Room
March 12, 2023
in Ethereum
Reading Time: 2 mins read
0 0
A A
0

The price of Ethereum has been declining in recent days after being rejected from a significant zone of resistance a couple of weeks ago.

Therefore, it would be useful to analyze the available support levels that could potentially halt the downturn.

Technical Analysis

By: Edris

The Daily Chart:

On the daily chart, the price has broken below the 50-day moving average, which is located around the $1600 mark. This took place after a rejection from the key $1800 level and the higher boundary of the large symmetrical triangle pattern.

Currently, the market seems to be targeting the 200-day moving average, which is located around the $1400 price level. If this significant moving average is broken, the price is likely to drop toward the $1300 support level in the short term.

Alternatively, if the price rebounds from the mentioned 200-day МА, the 50-day МА would now function as a resistance level. This would be followed by the higher boundary of the triangle.

The 4-Hour Chart:

Looking at the 4-hour chart, it’s clear that the price of ETH has been consolidating between the $1680 level and the $1500 area. The $1500 support level will soon be tested, and the short-term future of ETH’s price action will depend on how the price performs there.

If it holds, a rebound and rally toward the $1680 resistance zone will become more likely.

However, if the price breaks below the $1500 level, a further drop toward the $1350 area would be the most probable outcome in the coming days. Additionally, the RSI indicator is currently showing values below 50%, indicating that the bears are in control of the market.

Onchain Analysis

By Shayan

The Active Addresses metric provides an outlook of Ethereum’s demand side, presenting the total number of unique active addresses, including senders and receivers. The metric has been in a downtrend during the bearish cycle of the market, indicating a decreasing demand.

However, a downtrend in Active addresses is typical during the capitulation stages of the market. The metric has recently dropped to a new yearly low, showing that the demand is not enough to call the bear market over. Hence, the market requires more activity to start a healthy bullish cycle.

Read the full article here

ShareTweetSharePinShareShareSend

Related News

Ethereum Price Predicted To Reach $11,800 By 2030: VanEck Report
Ethereum

Ethereum Price Predicted To Reach $11,800 By 2030: VanEck Report

June 5, 2023
Ethereum’s [ETH] Largest Non-Exchange Addresses Hit New Milestone
Ethereum

Ethereum’s [ETH] Largest Non-Exchange Addresses Hit New Milestone

June 5, 2023
Ethereum Validator Activation Queue Grows: 90,000+ Validators Waiting in Line
Ethereum

Ethereum Validator Activation Queue Grows: 90,000+ Validators Waiting in Line

June 5, 2023
Etherscan Launches Advanced Filter for Enhanced Ethereum Blockchain Exploration
Ethereum

Etherscan Launches Advanced Filter for Enhanced Ethereum Blockchain Exploration

June 5, 2023
Ethereum Remains Stable With Over 3 Million ETH Unstaked
Ethereum

Ethereum Remains Stable With Over 3 Million ETH Unstaked

June 5, 2023
Atomic Wallet claims hack affected less than 1% of monthly active users
Ethereum

Atomic Wallet claims hack affected less than 1% of monthly active users

June 5, 2023
Ethereum fees trend toward two-month low after May’s memecoin mania
Ethereum

Ethereum fees trend toward two-month low after May’s memecoin mania

June 5, 2023
Ethereum Price Signaled “Sell” And Remains At Risk of More Losses
Ethereum

Ethereum Price at Clear Risk of Further Losses After Multiple Rejections

June 5, 2023
Starknet v0.12.0 Will Increase Network Throughput And Reduce Latency
Ethereum

Starknet v0.12.0 Will Increase Network Throughput And Reduce Latency

June 5, 2023

Discussion about this post

Latest News

New Binance CEO? Exchange Calls Bloomberg’s Claims ‘Speculation’

New Binance CEO? Exchange Calls Bloomberg’s Claims ‘Speculation’

June 5, 2023
Top Lawyer Shares New Doc Proving XRP Isn’t a Security “Outside Its Initial Contract”

Top Lawyer Shares New Doc Proving XRP Isn’t a Security “Outside Its Initial Contract”

June 5, 2023
XRP Advocate John Deaton Confident of Regaining Control of Hacked Twitter Account

XRP Advocate John Deaton Confident of Regaining Control of Hacked Twitter Account

June 5, 2023
France objects to Nato plan for office in Tokyo

France objects to Nato plan for office in Tokyo

June 5, 2023
SEC sues Binance in US District Court for unregistered securities operations

SEC sues Binance in US District Court for unregistered securities operations

June 5, 2023
ADVERTISEMENT

Popular

  • Dow futures rise on debt deal optimism

    Dow futures rise on debt deal optimism

    0 shares
    Share 0 Tweet 0
  • Reliance’s JioCinema signs content streaming deal with NBC Universal

    0 shares
    Share 0 Tweet 0
  • USD/JPY to remain supported as market banks on a further Fed rate hike in June – Commerzbank

    0 shares
    Share 0 Tweet 0
  • Mercedes-Benz’s Web3 Arm Teams Up with Fingerprints DAO to Create New NFT Collection

    0 shares
    Share 0 Tweet 0
  • USD/JPY Price Analysis: Bears eye a run to test deep into the 138s

    0 shares
    Share 0 Tweet 0
Block Journal

Block Journal is the world’s leading source in blockchain news and updates. Follow us to stay up-to-date with all you need to know in web3.

LEARN MORE »

Recent Posts

  • New Binance CEO? Exchange Calls Bloomberg’s Claims ‘Speculation’
  • Top Lawyer Shares New Doc Proving XRP Isn’t a Security “Outside Its Initial Contract”
  • XRP Advocate John Deaton Confident of Regaining Control of Hacked Twitter Account

Trending Topics

Altcoin Analysis Bitcoin Blockchain Commodities Crypto DeFi Ethereum Forex Futures GameFi ICO Investing Legal Markets Metaverse News NFT Security Stocks Uncategorized Videos Web3

Get Informed

The most important crypto and finance news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • About
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

Copyright © 2023 Block Journal - Created by Sawah Solutions.

No Result
View All Result
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine

Copyright © 2023 Block Journal - Created by Sawah Solutions.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.