The ETH price has dragged to its round level support zone of $3000 and is delivering short buildup for the past sessions. Moreover, the chart displays a bearish pennant pattern replicating the lower top and lower bottom swings. If the trendline support zone of $3000 is breached, the coin may extend the downfall and may retest the $2500 mark ahead. Conversely, the $3000 mark is the key support zone, where buyers have maintained a grip and are attempting a pullback.
At press time, the Ethereum coin (ETH) price traded at $3029.10 with an intraday
drop of 0.58%, reflecting neutrality on the charts. It has a monthly return ratio of -16.24% and 45.30% on a yearly basis. The pair of ETH/BTC is at 0.0487 BTC, and the market cap is $370.40 Billion. Analysts are bullish and suggest that the Ethereum price may find support near $2700 – $2900; a pullback is likely soon.
ETH Price Volume Profile On Daily Chart
The above chart displays the price volume profile of the Ethereum (ETH) crypto showcasing a retracement over the last few sessions. Amidst the global market negative sentiment and panic selloff in the market, the ETH coin held the gains, retracing merely 16%. The intraday trading volume dropped over 33.29% to $13.01 Billion.
Price Volatility and MVRV Ratio Overview
Amidst the range bound move, the coin displays a massive pump and dump move in the price volatility curve this week. The price volatility curve noted a decline over 43.90% to 0.00754. However, the MVRV ratio noted around -2.02 signifies a neutral price behavior.
Social Dominance X Followers, and Total Sentiment Overview
The social dominance data noted a spike from 2.40% to 7.525%, amid a minimal rise in the discussion reports. However, the X followers’ data reflects a sharp decline and losing over 62.37% to -9302. However, the weighted sentiment value stayed near the midline at -0.227.
Development Activity & Total Open Interest Insights
However, the derivative data reflects short profit booking; the open interest rose over 4.79% to $4.98 Billion in the last 24 hrs.
Per the Fib levels, the ETH price has decisively holding gains above the 38.6% zone and retested the mid bollinger band support zone. However, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts.
The total supply of the ETH coin is 122.37 Million, whereas the volume-to-market cap ratio is 0.0352, and it is ranked 2 in terms of market cap in the global crypto market.
Yfirlit
The Ethereum coin is trying to settle gains near its round level support zone of $3000 and is hovering around the 100 day EMA. However, the sellers are looking confident and are eager to break the zone to initiate a downfall ahead.
Tæknileg stig
Stuðningsstig: $ 2910 og $ 2700
Viðnámstig: $ 3180 og $ 3300
Afneitun ábyrgðar
Skoðanir og skoðanir sem höfundur eða einhver annar einstaklingur sem nefndur er í þessari grein hefur að geyma eru eingöngu til upplýsinga og fela ekki í sér fjármála-, fjárfestingar- eða önnur ráðgjöf.
Amanda Shinoy er ein af fáum konum í rýminu sem fjárfest er niður að hné í dulmáli. Talsmaður þess að auka viðveru kvenna í dulkóðun, hún er þekkt fyrir nákvæma tæknilega greiningu sína og verðspá á dulritunargjaldmiðlum. Lesendur eru oft að bíða eftir áliti hennar um næsta mót. Hún er fjármálasérfræðingur með MBA í fjármálum. Hún hættir í fyrirtækjastarfi hjá leiðandi fjármálastofnun og stundar nú fjármálafræðslu fyrir almenning í fullu starfi.
Source: https://www.thecoinrepublic.com/2024/04/17/eth-price-at-crucial-support-can-sellers-succeed-break-3000/