Ethereum (ETH) Price Analysis: Ether Continues Recovery, Resumes Uptrend above $4,040
Login

Ethereum (ETH) Price Analysis: Ether Continues Recovery, Resumes Uptrend above $4,040

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Highlights
Ethereum crashes to $3,436 low
Ether recovers from the downtrend

Ethereum ETH) Current Statistics
The current price: $4,107.13
Market Capitalization: $489,248,274,498
Trading Volume: $27,950,967,739
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis December 5, 2021
Ethereum’s (ETH) price broke below the moving averages and dropped sharply to the low of $3,436. The bulls bought the dips as price corrected upward to $4,235. Ether price is fluctuating below the moving averages. A break above the moving averages will signal the resumption of the uptrend. On December 4, there was a candlestick with a long tail pointing to the $3,400 support .The long candlestick tail indicates that the $3,436 support region is a strong buying pressure.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Firstly, Ether‘s price bars are below the moving average which indicates a further downward move. Ethereum is at level 47 of the Relative Strength Index for period 14. The biggest altcoin is now in the downtrend zone and capable of falling. Ethereum is above 80% area of the daily stochastic. The altcoin has reached an overbought region of the market. Sellers are likely to emerge in the overbought region.

Conclusion
On the 4 hour chart, Ethereum has resumed upward after the recent breakdown. Buyers have pushed the altcoin above the 21-day line SMA but may face rejection as the market reaches the overbought region. Meanwhile, on December 4 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Ether will rise to level 1.272 Fibonacci extensions or $4,214.14 .

ETH/USD – 4 Hour Chart

You can purchase crypto coins here. Buy Tokens


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News