Price Analysis

Ethereum (ETH) Bounces Marginally Without any Superficial Price Rally

  • Ethereum price again breaches $180 and trades at $183.15 in the past 24 hours.
  • Giving a 24-hour high price, ETH is currently correcting downwards.
  • Price of Ethereum continues to trade with a selling pressure and from the 10-day SMA and EMA.

Ethereum price is moving at a very slow pace when compared with other altcoins. However, depending on the position of the coin in the crypto market, the recent momentum is not up to the mark. Also, just when the BTC price has already went beyond its key resistances at $10,000 and $10,500. But a proper price rally is still awaited and seems far fetched as of now.

ETH to USD Price Chart by TradingView:

The below ETH price chart is a data feed from Coinbase as on 4th September at 10:30 UTC.

Ethereum (ETH) Price
ETH Price Chart by TradingView

The past 24-hour movement of Ethereum is no different other than a spiking surge at $183.15 trading price, yesterday. The coin took a 4.57% surge from the trading price of $175.13 when the coin was almost acting flat. This pushed ETH price to go beyond $180 but this turned out to be a momentary elevation. However, Ethereum was above $180 since the latter surge until the completion of the day on 3rd September. Today the coin again aliped below $180 and is currently trading at $177.67.

ETH price is rightly facing major resistance from $180 and $183 price areas, while the support lies near $175 and $173 to save it from breaking out even further at $170 and even below.

Technical Indicators:

The current trading price is notably 1.08% higher and 12.72% and 12.44% lower than the coin’s respective 5-day SMA, 50-day EMA and 50-day SMA.

The MACD of the coin just like many other altcoins is below zero but with a slight bullish crossover while the RSI is slightly above 40 withstanding no extremities.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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