Ethereum (ETH) Price Analysis: Ether Declines, Faces Rejection at the $2,200
Login

Ethereum (ETH) Price Analysis: Ether Declines, Faces Rejection at the $2,200

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

Azeez Mustapha

Updated:

Key Highlights
Ethereum price stuck at $2,200
The altcoin is facing rejection


Ethereum ETH) Current Statistics
The current price: $2,125.68
Market Capitalization: $248,907,918,520
Trading Volume: $15,552,790,504
Major supply zones: $2,800, $3,000, $3,200
Major demand zones: $2400,, $2,200, $2,000

Ethereum (ETH) Price Analysis July 25, 2021
On July 24, Ethereum rallied to the high of $2,200 but faces rejection at the recent high. Since July 24, Ethereum has been compelled to a sideways move below the recent high. The selling pressure will resume if the bulls fail to break the resistance level. Besides, the biggest altcoin has reached the overbought region of the market. Ether will resume downward as sellers emerge in the overbought region.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum price has broken above the resistance line of the descending channel. The uptrend will continue if price breaks and closes above the resistance line. Ether is at level 54 of the Relative Strength Index period 14. The coin is in the uptrend zone and above the centerline 50. The crypto is above the 80% range of the daily stochastic. It indicates that the coin has reached the overbought region of the market. The implication is that sellers are likely to emerge in the overbought region.

ETH/USD – 4 Hour Chart

Conclusion
The biggest altcoin is likely to fall as the market reaches the overbought of the market. Meanwhile, on July 24 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that Ethereum will fall to level 2.618 Fibonacci extensions or level 2047.43

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 results

  • 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