Breaking Above This Level Might Trigger A Bullish Momentum For Ethereum Price

Name	Symbol	Market	Market Cap ($)	Algorithm
Mina	MINAUSD	Crypto	574,736,380	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Mina

MINAUSD

Crypto

574,736,380

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.005	0.93%	0.545	0.545	0.546

Price Change

Price Change %

Current Price

Bid Price

Offer

0.005

0.93%

0.545

0.546

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.55008	0.513	0.541	0.540	0.349000 - 1.73

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.55008

0.513

0.541

0.540

0.349000 - 1.73

Exchange	Last Trade	Size	Trade Price	Currency
CRTO	22:50:29	0.100000	0.54539	USD

Exchange

Last Trade

Size

Trade Price

Currency

CRTO

22:50:29

0.100000

0.54539

USD

Price x Volume	Volume	Base Symbol	Related Pairs
397,501.56	740,428.16	MINA	MINAEUR	MINAGBP	MINABTC

Price x Volume

Volume

Base Symbol

Related Pairs

397,501.56

740,428.16

Breaking Above This Level Might Trigger A Bullish Momentum For Ethereum Price

16/05/2023 5:25pm

NEWSBTC

Ethereum managed to surpass the $1,800 price level initially, but it has been experiencing a period of consolidation recently. In the past 24 hours, there has not been much progress in the price movement. Similarly, the weekly chart shows that Ethereum has not made significant price advancements during this timeframe. The technical outlook for ETH is bearish, with indications of falling demand and accumulation. This suggests a lack of enthusiasm from buyers since Ethereum started trading sideways. The altcoin has been consolidating below an important resistance level, which, if successfully surpassed, could pave the way for a potential recovery. Related Reading: Will Dogecoin (DOGE) Break Free From Limbo? Market Awaits Bullish Catalyst Furthermore, ETH has formed a pattern that suggests the possibility of a bullish breakout in the near future. However, it’s important to note that for Ethereum to reverse its declining price trend, it will require broader market support. The market capitalization of Ethereum has declined, indicating an increasing dominance of sellers. This suggests that selling pressure has been mounting. Ethereum Price Analysis: One-Day Chart At the time of writing, Ethereum (ETH) was priced at $1,819. After surpassing the resistance level at $1,800, Ethereum has struggled to maintain a clear price direction. The next significant resistance for the coin is at $1,822, and if this level is surpassed, there is a possibility of Ethereum attempting to breach $1,840. Currently, ETH is displaying a downward wedge pattern, which is considered a bullish formation and suggests a potential price reversal in the future. However, if ETH falls from its current level, it could reach $1,800 and potentially even dip below $1,790. The trading volume of Ethereum in the last session has also declined, indicating a decrease in buying strength. But this could also point toward fatigue among sellers. Technical Analysis The recent price decline has placed ETH buyers in a negative zone. The Relative Strength Index (RSI) indicates that sellers currently outnumber buyers, as it is below the half-line. Furthermore, ETH has dropped below the 20-Simple Moving Average line, suggesting a lack of demand and indicating that sellers are driving the market’s price momentum. However, if there is a slight increase in demand, it could enable ETH to surpass the next resistance level, which would strengthen the position of buyers in the market. ETH price movement remains negative, consistent with other technical indicators. The Directional Movement Index shows a negative trend, with the -DI line (orange) positioned above the +DI line (blue). Related Reading: Floki Inu Scores Big With 3 New Exchange Listings, Price Spurts 10% The Average Directional Index (Red) is below the 20-mark, indicating a weak price direction. However, there is a potential hint of recovery suggested by the Chaikin Money Flow indicator. It has moved above the half-line, indicating that capital inflows are surpassing capital outflows. Featured Image From Unsplash, Charts From TradingView.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

MINAUSD Mina