Ethereum Struggles above the $2,800 High as Bears Target $2,485 Low
Login

Ethereum Struggles above the $2,800 High as Bears Target $2,485 Low

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Ether battles the resistance at $2,800
ETH/USD risks further decline

Ethereum ETH) Current Statistics
The current price: $2,857.25
Market Capitalization: $344,714,571,811
Trading Volume: $14,589,503,678
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis May 4, 2022
Ethereum’s (ETH) price is in a downtrend as bears target $2,485 low . Ether’s price makes a series of lower highs and lower lows. The largest altcoin has fallen to the low of $2,717 on April 30. Ether is making a lower high as it reaches the high of $2,869. On May 2 and 4, the bulls are trying to push the altcoin above the $2,800 high but are facing resistance. On the upside, if the bulls break above the previous lower high, the downtrend will be terminated. Nevertheless, if the bears break below the current support, the selling pressure will resume. The altcoin is trading at $2,863 as of press time.

Ethereum Struggles above the ,800 High as Bears Target ,485 Low
ETH/USD – Daily Chart

ETH Technical Indicators Reading
The altcoin is at level 45 of the Relative Strength Index for period 14. Ethereum is still in the bearish trend zone and below the centerline 50. The downtrend will resume if the altcoin loses its current support. The altcoin is below the 20% range of daily stochastic. The market has reached the oversold region. The stochastic bands are sloping below and above the 20% range of the daily stochastic. The uptrend will resume when buyers emerge in the oversold region.

Conclusion
Ethereum is in a downward move as bears target $2,485 low. The crypto is capable of a further downward move to the downside. Meanwhile, on April 18 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that ETH will fall to level 2.0 Fibonacci extension or $2,748.63. 

Ethereum Struggles above the ,800 High as Bears Target ,485 Low
ETH/USD – Daily Chart

You can purchase crypto coins here. Buy LBlock:


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