The trading price of Ethereum was $1793.48 (release time), with an increase of 3
- The trading price of Ethereum was $1793.48 (release time), with an increase of 3.43% during intraday trading.
- ETH's 24-hour low is $1730.78, while ETH's 24-hour high is $1836.29.
- The current Ethereum price is higher than 20, 50, 100, and 200 day EMA.
The ETH/BTC trading price was $0.06357 BTC, up 1.02% during the intraday trading session.
Ethereum's price forecast indicates that it is currently in an upward trend, with trading prices above its 20-day moving average. This indicates that the market still has bullish forces. Starting from the beginning of 2023, ETH tokens have been moving upwards, supported by rising buyers, after experiencing the bear market of 2022. But after breaking through its main support level of $1500.47, ETH tokens began to consolidate between their main support level and resistance level, indicating that demand and market supply were in equilibrium. ETH tokens have twice attempted to break through their main resistance level of $1727.94.
The seller tried their best to push the ETH token below its main support level, but after forming a hammer candlestick on the daily chart, the buyer became active again in the market. This may be the reason for the current bullish upward trend. The hammer shape formed after the downward trend on the daily chart indicates a bullish reversal on the K-line trend chart. The area between primary and secondary resistance serves as the allocation stage or supply area for ETH.
In the past 24 hours, the transaction volume of tokens has increased by 9.27%. The increase in trading volume indicates an increase in the number of buyers in the market. This indicates that the buyer is doing their best and there is a relationship between the volume and price of ETH, which represents the intensity of the current bullish stage.
Ethereum Price Technical Analysis:
RSI increases in overbought areas and shows a positive crossover, indicating a majority of buyers and driving ETH up. This indicates the strength of the current bullish trend. The current RSI value is 61.90, which is higher than the average RSI value of 54.83.
MACD intersects with signal lines and displays a positive intersection on a daily chart that supports RSI declaration. Investors need to pay attention to every move on the K-line chart during the trading session of the day.
conclusion
The Ethereum price forecast indicates that it is currently trading in an upward trend above the 20-day moving average. This indicates that the market still has bullish forces. The seller tried their best to push the ETH token below its main support level, but after forming a hammer candlestick on the daily chart, the buyer became active again. The increase in trading volume indicates a positive attitude towards ETH in the market. According to technical indicators, both RSI and MACD are increasing and showing a positive crossover on the daily chart, indicating the strength of the current bullish stage.
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