Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>ETH price dragged below the neckline support of $3200 mark.</a></li>
 <li><span>2</span> <a>Buyers are attempting to hold the $3000 mark and are in trouble.</a></li>
</ul>
<p>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.</p>
<p>At press time, the Ethereum coin (ETH) price traded at $3029.10 with an intraday</p>
<p>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&nbsp; 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.</p>
<h2 class="wp-block-heading" id="strong-eth-price-volume-profile-on-daily-chart-strong"><strong>ETH Price Volume Profile On Daily Chart</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (ETH), Volume (ETH)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=ethereum&amp;pt=ETH&amp;df=2023-10-17T18%3A29%3A59.977Z&amp;dt=2024-04-17T18%3A29%3A59.977Z&amp;sat=shchcfg_hm8KWvxwe3lj&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22line%22%7D" scrolling="no"></iframe>
<p>The above chart displays the <a href="https://www.thecoinrepublic.com/2024/04/16/vara-price-prediction-can-vara-secure-0-09000-amid-selloff/" target="_blank" rel="noopener noreferrer nofollow">price </a>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.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-and-mvrv-ratio-overview-strong"><strong>Price Volatility and MVRV Ratio Overview</strong></h3> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (ETH), MVRV Ratio (1d) (ETH)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=ethereum&amp;pt=ETH&amp;df=2023-10-17T18%3A29%3A59.977Z&amp;dt=2024-04-17T18%3A29%3A59.977Z&amp;sat=shchcfg_hm8KWvxwe3lj&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bmvrv_usd_1d&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>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.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-x-followers-and-total-sentiment-overview-strong"><strong>Social Dominance X Followers, and Total Sentiment Overview</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (ETH), Weighted sentiment (Total) (ETH), Twitter Followers 7d (ETH)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=ethereum&amp;pt=ETH&amp;df=2023-10-17T18%3A29%3A59.977Z&amp;dt=2024-04-17T18%3A29%3A59.977Z&amp;sat=shchcfg_hm8KWvxwe3lj&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bsentiment_volume_consumed_total%3Btwitter_followers_7d&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>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.</p>
<h4 class="wp-block-heading"><strong>Development Activity &amp; Total Open Interest Insights</strong></h4> <iframe loading="lazy" title="Santiment Chart: Development Activity (ETH), Total Open Interest in USD (ETH)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=ethereum&amp;pt=ETH&amp;df=2023-10-17T18%3A29%3A59.977Z&amp;dt=2024-04-17T18%3A29%3A59.977Z&amp;sat=shchcfg_hm8KWvxwe3lj&amp;emcg=1&amp;emhwm=1&amp;wm=dev_activity%3Btotal_open_interest&amp;wax=0%3B1&amp;wc=%238358FF%3B%23FF5B5B&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>However, the derivative data reflects short profit booking; the open interest rose over 4.79% to $4.98 Billion in the last 24 hrs.</p>
<p>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.&nbsp;</p>
<p>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.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>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.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $2910 and $2700</p>
<p><strong>Resistance Levels:</strong> $3180 and $3300</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

ETH Price At Crucial Support, Can Sellers Succeed Break $3000?

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