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

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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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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.