Ethereum (ETH) Price Analysis: Ether Consolidates Above $3,200, May Retest the 3,500 Resistance Zone

Ethereum (ETH) Price Analysis: Ether Consolidates Above $3,200, May Retest the 3,500 Resistance Zone

Key Highlights
Ethereum reaches a peak price of $3,500
The biggest altcoin now fluctuates between $3,200 and $3,500

Ethereum ETH) Current Statistics
The current price: $3,339.81
Market Capitalization: $386,953,999,676
Trading Volume: $386,953,999,676
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis May 5, 2021
In its recent rally, Ether reached a high of $3,500 and pulled back to the low of $3,200. Presently, the biggest altcoin is fluctuating between $3,200 and $3,500.The recent retracement and fluctuation were because Ethereum has been in the overbought region since April 28. ETH/USD will further decline $2,600 low if price breaks below $3,200 support.

ETH/USD – Daily Chart


ETH Technical Indicators Reading
The crypto’s price is above the moving averages which suggests that the altcoin will rise on the upside. Ether is retracing after the rejection. If price retraces and breaks below the resistance line, the uptrend may be interrupted. The uptrend will resume if price finds support above the resistance level.

ETH/USD -4 Hour Chart

Conclusion
On the 4-hour chart, Ethereum has retraced to the $3,200 support and there are bullish signals above the current support. The market will resume upward if the current support holds. Meanwhile, On May 4 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the altcoin will rise and reverse at level 1.272 Fibonacci extension or the high of $3,885.11.


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Ethereum (ETH) Price Analysis: Ether Retraces From $2,950.50 High, Suggests Further Upside Is Imminent

Ethereum (ETH) Price Analysis: Ether Retraces From $2,950.50 High, Suggests Further Upside Is Imminent

Key Highlights
Ethereum has rallied to $3,000 resistance zone, faces rejection at $2,950.50
The biggest altcoin retraces on the downside

Ethereum ETH) Current Statistics
The current price: $2,916.43
Market Capitalization: $337,471,356,737
Trading Volume: $337,471,356,737
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis May 2, 2021
The biggest altcoin has broken above the $2,800 resistance as the market rallied to $3,000 high. Ether is facing difficulty in penetrating the $3,000 resistance level. In the meantime, ETH price is retracing from the recent high. Another possible reason is that the RSI and the daily stochastic have indicated that Ether price has reached the overbought region of the market. Sellers are likely to emerge to push prices down.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The altcoin price has risen to level 74 of the Relative Strength Index period 14. The market is said to be in the overbought region. The implication is that Ether price may experience downward movement prices. The coin is also above the 80% range of the daily stochastic. The daily stochastic has reached overbought condition since April 26.

ETH/USD – 4 Hour Chart

Conclusion
On the 4-hour chart, Ethereum is retracing after rejection from the recent high. It is unclear the extent of the downward move. The uptrend will continue as soon as prices find support. Ethereum is rising after retracing to $2,900 support. Meanwhile, on April 22 uptrend; a retraced candle body tested the 38.2 % Fibonacci retracement level. This retracement indicates that Ethereum will rise to level 2.618 Fibonacci extension or the high of $3,765.91.

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Ethereum (ETH) Price Analysis: Ether Surges On The Upside, Unable To Break The Resistance At Level $2,700

Ethereum (ETH) Price Analysis: Ether Surges On The Upside, Unable To Break The Resistance At Level $2,700

Key Highlights
Ethereum rallied to $2,700 high and was compelled to a sideways move
Ethereum price makes a series of higher highs and higher lows


Ethereum ETH) Current Statistics
The current price: $2,595.80
Market Capitalization: $300,206,625,220
Trading Volume: $31,539,991,803
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis April 28, 2021
For the past week, Ethereum has been in an upward move. Previously, Ether has been in a downward movement. The biggest altcoin fell to $2,100 low and resumed upward to retest the previous highs. The bullish momentum was sustained above the previous price level but face rejection at $2,700. Today, ETH price is fluctuating below the $2,700 resistance. The daily stochastic is indicating that Ether is approaching the overbought region of the market. The altcoin may fall in the overbought region.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 63 of the Relative Strength Index period 14. The crypto is in the uptrend zone and approaching the overbought region. Similarly, the crypto is above the 79% range of the daily stochastic. The market is in a bullish momentum and approaching the overbought region.

ETH/USD – 4 Hour Chart

Conclusion
Ethereum is in an uptrend. On the 4-hour chart, buyers attempted to push the coin above the $2,700 price level but faced rejection. Meanwhile, on April 16 uptrend; a retraced candle body tested the 38.2 % Fibonacci retracement level. This retracement indicates that Ethereum will rise to level 2.618 Fibonacci extension or the high of $3,519.92.

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India Receives Massive Ethereum Cryptocurrency Donations for COVID-19 Relief Funds

India Receives Massive Ethereum Cryptocurrency Donations for COVID-19 Relief Funds

The Second Wave of COVID-19 in India
India, like several countries, was forced to go through an extended period of lockdown in 2020 to curb the spread of the Covid-19. The number of positive cases reached its peak in mid-September, after which there was a swift decline towards the end of the year. By December, the lockdown rules had been relaxed, but this period also coincided with religious and political activities. Being the second-most populous country, these activities ensured a rapid spread of the virus among the people. By early March, there had been a dramatic upsurge in the number of positive cases.

As of today, India has become one of the most infection-ravaged countries, having recorded enormous occurrences of positive cases in the past two months. It is projected that this COVID-19 second wave in India will have its peak in mid-May. In response, the Indian government has taken several decisions including allowing free entry of essential relief and medical materials.
Relief Contributions Towards the Pandemic
This situation of health in India has drawn sympathies from various individuals and bodies, including several top-ranking individuals in the cryptocurrency industry.

Sandeep Nailwal, the co-founder of Polygon (MATIC), took the step of starting a donation campaign in form of financial support to help India fight the COVID-19 second wave.

The donation, in ETH, was to be sent to a wallet address created on Gnosis Safe. Prominent cryptocurrency companies in India were to help in converting the cryptocurrency contributions into Indian currency for those who need the donations.

Donations have been pouring in, even from top cryptocurrency industry veterans such as Balaji Srinivasan, former chief technology officer at Coinbase, and Vitalik Buterin, the co-founder of Ethereum.

Vitalik Buterin’s Ether and Maker Donation
Balaji Srinivasan donated ETH worth $50,000 with a promise for more. This was followed up by a donation from the co-founder of Ethereum Vitalik Buterin, of 100 ETH and 100 MKR to the charity drive, which is $220,000 and $400,000 worth respectively. These transactions reflected on the Ethereum blockchain and were confirmed on Buterin’s Twitter feed where he posted the proof of transfer.
Current State of Cryptocurrency Acceptance in India
The state of cryptocurrency acceptance in India hangs in the balance, as the country’s regulators are undecided and have neither legalized nor rejected the use of cryptocurrencies.

Even at the beginning of the donation campaign by Nailwail for the COVID-19 pandemic, there were apprehensions by some donors about regulatory frictions. These concerns were put to bed, however, with the support of one of the top chartered accountants in India, who took on the responsibility to sort out audits and regulations for the campaign.

In general, the cryptocurrency industry stakeholders in India are in constant communication with the Indian government, urging them to approve the use of cryptocurrency in the country.

Future Prediction of Cryptocurrency in India
Despite the uncertainty on the use of cryptocurrencies in India, several crypto companies are already functioning actively. The public interest also is high and ever-increasing. It is also believed that this generous act of donations of cryptocurrencies for the good of the country will also convince the regulators to strongly consider approving cryptocurrencies.

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Ethereum (ETH) Price Analysis: Ether Resumes Downtrend, Unable To Sustain Above The $2,400 High

Ethereum (ETH) Price Analysis: Ether Resumes Downtrend, Unable To Sustain Above The $2,400 High

Key Highlights
Ethereum faces rejection twice at the $2,600 resistance
Ether resumes downtrend breaks 21-day SMA

Ethereum ETH) Current Statistics
The current price: $2,193.03
Market Capitalization: $253,577,098,826
Trading Volume: $29,915,500,106
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis April 25, 2021
Ethereum’s uptrend is facing rejection at the $2,600 resistance zone. On April 15, the bulls were repelled at the $2,600 resistance zone. The biggest altcoin fell to $2,100 and resumed upward to retest the previous highs. On April 22, there was price spike that broke the overhead resistance. However, the bulls could not sustain the uptrend as price plunged on the downside. Selling pressure is likely to resume on the downside.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether price is attempting to break below the 21-day SMA; A break below the moving averages will accelerate the downward movement of prices. Presently, the crypto’s price is above the 21-day SMA and 50-day SMA which suggests a rise in price movement.

ETH/USD – 4 Hour Chart

Conclusion
On the 4-hour chart, the Ethereum price is in a downward move. The altcoin dropped to $2,100 low as price corrected upward. The upward correction faces rejection at $2,400. The implication is that the downtrend is likely to continue. Meanwhile, on April 23 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that Ethereum will fall to level 1.618 Fibonacci extension or the low of $1,799.83.


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JP Morgan Announces Job Opening for Ethereum and Blockchain Developers

JP Morgan Announces Job Opening for Ethereum and Blockchain Developers

After several years of opposing cryptocurrencies and even calling it a fraud at some point, behemoth investment bank JP Morgan Chase & Co. has announced that it is hiring developers for Ethereum and blockchain development.

The job listing was published on Glassdoor, a renowned US job and recruitment website. The firm noted that it is looking to hire developers with experience in writing smart contracts, implementing business applications, and authenticating cryptographic protocols on the blockchain.

The recent development is a surprising change of stance for the company towards cryptocurrencies, considering how antithetical JPM was on Bitcoin (BTC). in 2017, famously stated that crypto assets were “worse than tulip bulbs.” He also asserted that he would terminate the appointment of any JP Morgan employee dealing with cryptocurrencies.

CEO of JPM Jamie Dimon

Bitcoin’s Supply is Fizzling Out
The recent job posting could be a sign that JPM is joining the financial institution train hopping on crypto and blockchain technology. The US-based banking giant noted that it would begin dealing with cryptocurrencies once a certain level of demand from customers seeking crypto exposure gets met.

Recently, JP Morgan advised investors to allocate 1% of their portfolio into Bitcoin as a hedge, highlighting the declining supply of BTC due to large investor purchases. Glassnode recently revealed that the liquid supply is plummeting as whales and miners hoard and increase their holdings.

Reports show that about 78% of all Bitcoin in circulation is lost or being HODLed, leaving a measly 4 million BTC to trading. An example of institutional hoarding of Bitcoin is Grayscale, which currently holds over $36 billion worth of BTC. Grayscale recently revealed that it has $50 billion in total assets under management.

 

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Ethereum (ETH) Price Analysis: Ether Retraces But Stuck Below $2.360 Resistance

Ethereum (ETH) Price Analysis: Ether Retraces But Stuck Below $2.360 Resistance

Key Highlights
Ethereum is stuck below $2,360 resistance
The biggest altcoin fluctuates between $2,275 and $2,350

Ethereum ETH) Current Statistics
The current price: $2,327.71
Market Capitalization: $269,505,078,336
Trading Volume: $38,035,086,526
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis April 21, 2021
Ethereum is in a downward correction as buyers push Ether on the upside. The upward move is facing rejection at the $2,350 high. Meanwhile, on April 6 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement implies that ETH will rise to level 1.272 Fibonacci extensions or the high of $2299.62. At this price level, the altcoin will reverse to the 78.6 Fibonacci retracement level where it originated.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum is at level 58 of the Relative Strength Index period 14. ETH is still in the uptrend zone and capable of rising. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend.

ETH/USD – 1 Hour Chart

Conclusion
On the 4-hour chart, the Ethereum price is stuck below the $2360 resistance level. On April 21 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. This retracement indicates that Ethereum will rise to level 1.272 Fibonacci extension or the high of $2,419.70. From the price action, the market is retracing from the recent high.


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Ethereum (ETH) Price Analysis: Ether Slumps To $2,200 Support, Upward Move Likely

Ethereum (ETH) Price Analysis: Ether Slumps To $2,200 Support, Upward Move Likely

Key Highlights
Ethereum rallies to a high of $2,544
Ethereum retraces but may find support above $2,200

Ethereum ETH) Current Statistics
The current price: $2,309.57
Market Capitalization: $267,818,777,415
Trading Volume: $33,860,619,735
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis April 18, 2021
Ethereum bulls pushed the biggest altcoin to a high of $2,544 but could not continue with the uptrend. Before now Ether was struggling to break the resistance at $2,200 and $2,300. The bulls were successful as price reached a high of $2,544. Nevertheless, Ether is facing resistance at the recent high. The biggest altcoin has fallen to a low $2,242.80 and pulled back. It appears the current support is likely to hold. Meanwhile, on April 15 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement implies that ETH will rise to level 1.618 Fibonacci extensions or the high of$2896.58.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum has fallen from level 75 to level 60 of the Relative Strength Index period 14. ETH is still in the uptrend zone and capable of rising. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend.

ETH/USD – 4 Hour Chart

Conclusion
Ethereum has fallen and reached bearish exhaustion. On the 4-hour chart, and on April 16 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that Ethereum will fall to level 1.618 Fibonacci extension or the low of $2,188.66. From the price action, the biggest altcoin has fallen to $2,242.80 and it pulling back.

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Ethereum (ETH) Price Analysis: Ether Continues Its Rally as It Breaks Resistance at $2,150 and $2,200

Ethereum (ETH) Price Analysis: Ether Continues Its Rally as It Breaks Resistance at $2,150 and $2,200

Key Highlights
Ethereum bulls break resistances at $2,150 and $2,200
The biggest altcoin has broken resistance at level $2,300

Ethereum ETH) Current Statistics
The current price: $2,349.68
Market Capitalization: $270,957,376,500
Trading Volume: $30,816,542,480
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis April 14, 2021
Buyers have broken the $2,150 and $2,200 resistance as Ether approaches the $2500 high. The biggest altcoin is facing resistance at the $2,300 high. The market price will rise if the current resistance is breached. Ether is expected to rise to $2,500 high if the bullish momentum is sustained. However, Ether will reverse at the recent high, if it faces rejection. Meanwhile, on April 6 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement implies that ETH will rise to level 1.272 Fibonacci extensions but the crypto may reverse.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum has risen to level 68 of the Relative Strength Index period 14. The crypto is approaching the overbought region of the market. The 21-day SMA and 50-day SMA are sloping upward.

ETH/USD – 4 Hour Chart

Conclusion
Ethereum has broken the initial resistance at $2,300 as price surged ahead. Meanwhile, on the 4 Hour Chart, a retraced candle body tested the 50% Fibonacci retracement level. This retracement indicates that Ethereum will rise to level 2.0 Fibonacci extension or the high of $2,347.32. From the price action, the market has risen to the Fibonacci level.

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Ethereum (ETH) Price Analysis: Ether Fluctuates Below $2,150 Resistance, Sellers threaten to Short

Ethereum (ETH) Price Analysis: Ether Fluctuates Below $2,150 Resistance, Sellers threaten to Short

Key Highlights
Ethereum bulls struggle to break the resistance at $2,150
Ethereum has a target price of $2500

Ethereum ETH) Current Statistics
The current price: $2,142.55
Market Capitalization: $248,130,215,232
Trading Volume: $23,662,694,684
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis April 11, 2021
Ethereum bulls are still struggling to break above the $2150 resistance. Yesterday, buyers pushed Ether to the high of $2,200 but were repelled. The altcoin is still fluctuating below the resistance zone. It is fluctuating between $2,075 and $2,150. On the upside, a break above the $2,150 resistance will propel the coin to rally above $2,500. Conversely, if price retraces and breaks below $2,075 support, the biggest will fall to $1,925.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum has risen to level 63 of the Relative Strength Index period 14. The biggest altcoin has remained stable in the uptrend zone. Ether’s price is approaching the resistance line of the ascending channel. If price breaks and closes above the resistance line, Ethereum will resume upside momentum.

ETH/USD – Daily Chart

Conclusion
On the daily chart, Ethereum price has been struggling below the $2,150 resistance. The Fibonacci tool has indicated a possible price upward movement and eventual reversal. After the April 2 uptrend, two retraced candle bodies tested the 78.6% Fibonacci retracement on April 3 and 5. The retracement indicates that the market will reach the high of level 1.272 Fibonacci extension and reverse. That is the high of $2,298.93.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.