Ethereum technical outlook is positive despite 8% dip

2021-1-27 16:15

Ether (ETH) holding above $1,300 to suggest the next upside could take it past the current all-time high of $1,476

Ethereum has dropped nearly 8% over the past 24 hours, trading as low as $1,293 (Bitstamp). The increase in selling pressure comes after ETH/USD hit a new all-time high of $1,476, which means some traders are likely taking profits.

Despite the dip and the struggles around $1,300, the technical outlook for Ether short term suggests bulls might resume the uptrend into uncharted territory. If bulls manage to recover above $1,400, sustained momentum could push ETH towards $2,000, or even higher.

The recent spike in exchange withdrawals of Ether is also a positive signal, which suggests more people are hodling Ethereum, or that more ETH is locked up in contracts for staking and farming. All these factors have the potential to increase demand as coins in circulation reduce, likely pushing prices higher.

ETH/USD price outlook

ETH/USD 4-hour chart. Source: TradingView

Ether (ETH) traded lower as shown on the 4-hour chart since touching its all-time high of $1,476 before bulls rallied to stem the decline. Ether currently trades around $1,333, with bulls pushing higher after sellers successfully retested the 50-day EMA support level.

Ethereum’s price above $1,340 would effectively invalidate the sell signal recently flashed on the 4-hour time frame. The indicator had suggested a potential dip to the previous resistance level of $1,272, which currently acts as the initial support level in case of a downside flip.

If ETH/USD continues to trend upwards towards the ATH, increased buy pressure could see it extend gains to $1,650. The next targets from here would be moves towards $2-$3k.

ETH/USD daily chart. Source: TradingView

On the daily chart, the RSI is above 60 to suggest the advantage is with the bulls despite the negative divergence. The MACD also remains in the bullish zone and suggests bears have begun to weaken.

The recent bounce off the 15-day EMA and subsequent support at the zone indicate strong support above $1,200.  That explains the increased buying seen near the price zone.

Buyers need a daily close above $1,300 to preserve the upward move towards a new record price. But if sellers force bulls back under $1,300, the main support levels are at the 20-day EMA ($1,201) and 50-day EMA ($989).

Even with a retest of the above price levels, Ethereum will still be above an uptrend line in place since the upsurge from lows of $710. It means that the second-largest cryptocurrency by market cap remains positive until the price dips under $800.

The post Ethereum technical outlook is positive despite 8% dip appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Etherisc DIP Token (DIP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0251189
Капитализация $0 Rank 99999
Цена в час новости $ 0.0831496 (-100%)

dip ethereum positive despite outlook technical past

dip ethereum → Результатов: 126


Фото:

Is now a good time to buy Ethereum?

Ethereum’s (ETH) price is experiencing a pullback towards the $1,103 support level as a result of Bitcoin’s recent dip. But is the second-largest cryptocurrency by market cap a good buy at the moment? Fundamental analysis: whales buying discounted Ether Ethereum’s current fundamental outlook is considered as fairly bullish, especially with more analysts coming out with […] The post Is now a good time to buy Ethereum? appeared first on Invezz.

2021-1-16 22:33


Фото:

This Trend Channel Suggests Ethereum Could Dip to $500 Before Rallying Higher

Ethereum has seen some brutal price action throughout the past few days and weeks, with the selling pressure seen in the $1,300 region proving to be quite intense It is important to note that Bitcoin has been creating massive headwinds for Ethereum as of late, with buyers being unable to guard against an intense decline One trader is now noting that where the market trends next will likely depend on whether bulls can defend $1,000 […]

2021-1-12 01:00


Ethereum Bulls Defend Key Support as Market Retraces; What to Watch For

Ethereum has been caught in a wild bout of turbulence these past few days, primarily because of its recent breakout rally that allowed it to gain serious ground against Bitcoin The cryptocurrency has been able to flip the crucial $1,000 level into support, and bulls are in the process of defending it presently It is imperative that bulls can continue defending this level in the near-term, as any dip below it could lead to a […]

2021-1-6 23:00


Фото:

Analysts Fear Further Downside Despite Ethereum’s Recovery from Overnight Dip

Ethereum has seen some immense bullishness throughout the past 24-hours, with the crypto breaking free from its range-bound trading in the $700 region and rocketing past $1,000 Where the entire market trends in the mid-term may depend largely on whether or not Bitcoin can maintain its foothold in the lower-$30,000 region If the crypto can hold above here and consolidate, it could provide ETH and other altcoins with further room to rally in the days […]

2021-1-5 01:00


Фото:

Analyst Claims Ethereum is Almost Ready to See a Massive Markup to $800

Ethereum has been struggling to break free of its connection to Bitcoin, with the benchmark cryptocurrency having massive control over its price action This has so far been quite bearish for ETH, as it has caused the cryptocurrency to see notable losses on multiple occasions Where it trends next should depend largely on whether or not bulls and bears can hold BTC above $18,000, as a dip below this level could be grim One trader […]

2020-12-11 23:00


Фото:

Ethereum Could Plunge Below $500 Despite Ongoing Rebound, Claims Analyst

Ethereum has been facing some turbulent price action throughout the past few days and weeks, with the selling pressure seen in the lower-$600 region forcing it lower on multiple occasions This has come about due to its close connections to Bitcoin and its price action, with the benchmark crypto’s inability to break $19,800 hampering the growth seen by ETH as well Despite the strong rebounds seen following every dip, sellers are still trying to fade […]

2020-12-6 01:00


Trader: Yearn.finance Likely to See One More Dip Before Rocketing Higher

Yearn.finance’s YFI token is trading up significantly today, with bulls aiming at providing the cryptocurrency with a strong foothold within the lower-$20,000 region. Where the aggregated crypto market trends in the near-term will likely depend on Bitcoin and Ethereum, with the strength seen by these two digital assets helping to provide the DeFi sector with […]

2020-11-18 00:00


Фото:

Ethereum Struggles to Hold $450, But Analysts Still Expect $500+

It has been a turbulent morning for the crypto market, with Bitcoin trending down towards $15,000 while creating headwinds for altcoins That being said, Ethereum has largely been able to dodge these headwinds, posting a strong recovery from its brief early-morning dip towards lows of $440 It is once again moving to reclaim its $450 resistance, and flipping this level into support is vital for the cryptocurrency to see any significant upwards momentum One trader […]

2020-11-8 22:00


Фото:

Do or Die: Ethereum Tests Critical Support Region as Bears Try to Regain Control

Ethereum has been struggling to garner any technical strength in the time following its dip below $380 This is a critical level that has determined its trends in the past, and the break below it is quite bearish Where the entire market trends next will likely depend on Bitcoin, but any near-term BTC downside could force ETH below a critical support level It is currently trading just a hair above this level, and one analyst […]

2020-10-18 22:00


Фото:

Ethereum’s Near-Term Fate May Rely on This One Surprising News Event

Ethereum’s mid-term outlook has been foggy over the past few days and weeks, with buyers and sellers being unable to gain control of its trend The cryptocurrency is still trading squarely between $340 and $350, with it facing some heightened selling pressure earlier on in the day This selling pressure caused it to dip from highs of $355 to lows of $345 It remains unclear as to what may have caused this to occur One […]

2020-10-7 23:00


Фото:

Ethereum has Yet to Reach a Critical Support Zone; Will It Tap $300?

Ethereum’s price action has been nearly identical to that of Bitcoin throughout the past couple of days This caused the crypto to dip as low as $318 yesterday, at which point buyers stepped up and catalyzed from strong momentum This pushed the cryptocurrency up to highs of $340, which is where it found some resistance ETH is now caught within a bout of sideways trading, and its price is offering few signs of clarity to […]

2020-9-25 00:00


Analyst: Ethereum Poised to Dip to $270 as Selling Pressure Mounts

Ethereum has been fully exposed to the weakness seen by Bitcoin and the aggregated crypto market today This has caused it to post some notable losses, with its price reeling down to lows of $325 earlier this morning before bears lost some of their momentum and the crypto rebounded back above $330 Despite some slightly positive price action seen this morning, one analyst is still noting that the likelihood of a decline down towards the […]

2020-9-8 23:00


Ethereum Bulls Defend Critical Support; Will Its Strength Last?

Ethereum has been facing intense selling pressure throughout the past few days which has caused its price to shed a good portion of its recent gains This selling pressure first came about after it incurred explosive momentum that sent its price surging up to highs of nearly $450 last week The crypto ultimately fell to the sub-$400 region yesterday, but this dip was quickly absorbed by aggressive buying pressure that helped it climb higher Analysts […]

2020-8-21 23:00


Ethereum is at Risk of Losing a Crucial Level Following Yesterday’s Selloff

Ethereum has been closely tracking Bitcoin’s price action in recent weeks, which caused it to see some intense bearishness yesterday The cryptocurrency’s price dove as low as $367 once the selling pressure began peaking From this point, it saw a strong rebound that allowed it to recapture that vast majority of these losses It now appears to be well-positioned to see slightly further near-term upside One analyst believes that this latest dip did put ETH […]

2020-8-13 23:00


Ethereum Retraces After Hitting Crucial Resistance; Here’s How Low It May Dip

Ethereum is currently retracing following its intense move higher throughout the past few days The cryptocurrency remains technically strong and is sitting well above where it was trading at just one week ago Despite this, analysts are also noting that it recently reached the top of a crucial range seen while looking at its BTC trading pair One analyst is noting that he expects the cryptocurrency’s uptrend to stall here, potentially causing ETH to see […]

2020-7-29 23:00


Фото:

Here’s the Critical Price Level That May Kick Off Ethereum’s Next Bear Trend

Ethereum investors have gained little insight into the cryptocurrency’s trend over the past few weeks Despite being stuck within a wide trading range, it is important to note that ETH has been hovering just above the lower boundary of this range over the past few days This has marked an underperformance of Bitcoin and many of its other peers, but an overnight dip below this level was quickly absorbed by buyers Analysts are still forecasting […]

2020-6-20 23:00


Фото:

Analysts Flip Short on Ethereum as Likelihood of a Sharp Decline Grows

Ethereum has begun finding immense stability within the $190 region following its recent dip to lows of $180 seen yesterday The cryptocurrency has been flashing some immense signs of weakness against its BTC trading pair throughout the past few weeks Multiple analysts are now noting that they anticipate ETH to decline further in the days and weeks ahead, potentially seeing losses that send it as low as $150 in the near-term Ethereum has seen a […]

2020-5-13 23:00


Фото:

Ethereum Narrowly Avoids a Bloodbath as Bulls Struggle to Defend Critical Support

Ethereum saw a sharp overnight selloff that caused it to briefly dip into the sub-$200 level, putting it at grave risk of seeing a capitulatory decline Buyers were able to guard against this, however, and subsequently propelled the cryptocurrency back into the $200 region It now appears that ETH could still be at risk of seeing significant near-term downside, however, as a failure for it to surmount a resistance level it is currently stuck below […]

2020-5-8 23:00


Tezos, Chainlink continue positive trend as Ethereum Classic struggles near critical support

As Bitcoin's dominance took a dip, altcoins have posted major gains. Many lesser-known altcoins breached significant resistance levels as they rallied. As market observers anticipated for an alt-seasoThe post Tezos, Chainlink continue positive trend as Ethereum Classic struggles near critical support appeared first on AMBCrypto.

2020-2-16 19:30