Ethereum

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-movement-analysis/" data-wpel-link="internal">Ethereum Price Movement Analysis</a><br></p>
<p style="text-align: justify">On Wednesday, <a href="https://en.coin-turk.com/is-it-time-to-buy-ethereum-eth-price-chart-latest-developments-on-eth-coin/" data-wpel-link="internal">Ethereum</a>‘s native token ETH moved towards the $2,871 resistance level. Following this decline, Ethereum’s <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> experienced a significant recovery of over 9%, giving <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> hope. As of writing, the price shows a positive movement towards the 100-day Simple Moving Average (SMA) and trend line in both the 4-hour and daily time frames.</p> 
<h2 style="text-align: justify" id="a-look-at-the-ethereum-chart">A Look at the Ethereum Chart</h2> 
<p style="text-align: justify">As seen in the image below, today’s ETH price is moving towards the 100-day simple moving average and the trend line. ETH price continues to trade below these two indicators.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-347856" src="https://coin-turk.com/wp-content/uploads/2024/05/100-eth-usdt-coin-turk-com.png" alt="" width="475" height="263"></p> 
<p style="text-align: justify">This could reflect a potential downward trend in Ethereum’s price and the continuation of a downward price movement.</p> 
<p style="text-align: justify">Additionally, based on the Relative Strength Index Indicator (RSI) closely followed by investors, the RSI value continues to stay above the neutral 50 zone, indicating that the price increase could continue.</p> 
<p style="text-align: justify">Finally, a close examination of the MACD indicator in the 4-hour time frame shows that the MACD is above the zero line. Also, the MACD line and the signal line are intersecting, moving towards the neutral zone.</p> 
<p style="text-align: justify">This situation indicates a potential price movement, suggesting that an upward price movement could begin.</p> 
<h2 style="text-align: justify" id="how-much-is-one-ethereum">How Much is One Ethereum?</h2> 
<p style="text-align: justify">Looking at Ethereum’s past price movements, there are two resistance levels at $3,250 and $3,355, while a strong support level exists at $2,819.</p> 
<p style="text-align: justify">If Ethereum’s price moves upward and potentially breaks above the $3,250 resistance level, a larger movement towards the second resistance level at $3,355 could be seen.</p> 
<p style="text-align: justify">Conversely, if Ethereum cannot break the existing resistance and starts to decline, a downward movement towards the previous support level at $2,819 could begin. If this support level is breached on the ETH side, new lower levels could appear for investors.</p> 
<p style="text-align: justify"><strong>ETH,</strong> as of writing, is finding buyers at the $3,140 level and has risen by 1.32% in the last 24 hours.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-price-movement-analysis/" data-wpel-link="internal">Ethereum Price Movement Analysis</a></h5>

Ethereum Price Movement Analysis

Table of Contents

COINTURK NEWS

Other articles published on May 4, 2024

Shiba Inu (SHIB) Skyrockets Following Successful Hard Fork by Team

OpenAI Could Challenge Google And Perplexity With AI-Powered Search: Reports

Top Meme Coins To Invest In Today Saturday, May 4 – MemePad, Garlicoin, Dogeswap, Sponge V2

Bitcoin (BTC) User Paid Eye-Watering $100,254 for Single Transaction

The Pump Rally: BEFE Coin Price's Upward Trajectory

Crazy Wolf (CRAWOLF) Coin Will Surge 7,000% Within 48 Hours, Looks to Challenge Shiba Inu and Dog...

Join our free newsletter for daily crypto updates!