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 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.
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.
You can purchase crypto coins here: Buy Coins
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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.