Ethereum Price Analysis - Support & Resistance Movements.

Ethereum Price Analysis - Support & Resistance Movements.

2021-12-06 | Eddy Morgan

Ethereum Price Analysis - Support & Resistance Movements.

Early in the Asian session, Ethereum (ETH/USD) sought to continue its rebound upward, orbiting the 4097.07 level after a recent severe move below the 3575 level late last week, after huge selling pressure that erupted around the 4784.50 level. During the current slide, stops were placed below a variety of negative price goals, including 4521, 4440, 4391, 4303, 4255, 4205, 4159, 4097, 3935, and 3710. The sharp selling pressure was ultimately stopped just above the 3570.64 sectors, a downward price objective connected to selling pressure that erupted around the 4767.44 level. ETH

ETH/USD 1 DAY PRICE CHART: SOURCE - COINMARKETCAP.COM

Following the pair's recent volatility, possible upward retracement levels and technical resistance regions include 4171.22, 4311.93, 4486.02, and 4512.26. Traders have noticed that the 50-bar MA (4-hourly) is bearishly signaling below the 200-bar MA (4-hourly) and bullishly showing above the 100-bar MA (4-hourly). Furthermore, the 50-bar MA (hourly) is bearishly predicting a move below the 100-bar MA (hourly) and the 200-bar MA (hourly). The 100-bar MA (4-hourly) is at 4288.49, while the 50-bar MA (Hourly) is at 4234.49. Stops are expected around 3515.25/ 3375.24/ 3235.23, with technical support expected around 3515.25/ 3375.24/ 3235.23. Technical resistance is predicted to be found around 4265.21/ 4311.93/ 4486.02, with stops expected to be placed above. At the reporting time, Ethereum is presently trading at a price of around $4016 USD, down 3.95% for the day.

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