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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Author : Azeez Mustapha

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