Ethereum Today’s price analysis is bearish, with strong rises of over 10% over the past day and signs of resistance of over $ 1,200. Therefore, another low swing height is set and it is expected that further downside tests will be tested over the weekend.
The market has been trading green over the last 24 hours. Leaders Bitcoin and Ethereum both showed strong recovery, rising 5.29 percent and 12.18 percent, respectively. Meanwhile, the rest of the market was followed by results between the two.
Ethereum price movements over the last 24 hours: Ethereum peaks above $ 1,200
ETH / USD trades in the range of $ 1,078.10 to $ 1,225.06, showing strong volatility over the last 24 hours. Trading volume increased 3.45% to a total of $ 18.86 billion, with a market capitalization of approximately $ 147.73 billion, giving it 15.83% market power.
ETH / USD 4-hour chart: Does ETH seem to reverse?
The 4-hour chart shows further upward rejections over the past few hours, indicating that the reversal should continue over the weekend.
Ethereum price The action set a strong high swing low earlier this week after a few days of strong retracement. After the last surge on Wednesday fell below $ 1,000, there were clear signs that a reversal was planned.
Certainly, the upside continued shortly thereafter. After the first push above $ 1,100, ETH / USD paused in the middle of yesterday and then began to rise rapidly.
By the end of the day, the next resistance of $ 1,175 was clearly broken. However, it couldn’t reach much upwards overnight and Ethereum prices are heading towards some rejection candles.
This evolution of price behavior clearly shows that a reversal is planned, setting a low high for another swing. Perhaps ETH will fall over the weekend to open trading and aim to return to below $ 1,100. From there, you can see the higher low set, forming a very large several weeks of tightening integration area.
Ethereum Price Analysis: Conclusion
Ethereum’s price analysis is bearish today as it has been hit by resistance of over $ 1,200. Therefore, another low swing height can be seen immediately, with lower values falling and higher lows on weekends.