Ethereum

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/ethereum-eth-climbs-back-above-3000-massive-70000-bitcoin-btc-battle-ahead-cardano-ada-about-to" rel="noopener noreferrer nofollow">Ethereum</a> edges above $3,000, crossing the 100 EMA, but despite the breakthrough, there is a possibility of a bearish reversal seen on the <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">ETH/USD price chart</a>. The climb, while positive, shows signs that it might not have the steam to break through the 26 EMA convincingly. This short-term moving average is proving to be a tough resistance for the second-biggest cryptocurrency, but it should not.
The trading volume for <a href="https://u.today/justin-sun-bags-over-405-million-in-ethereum-eth-in-days" rel="noopener noreferrer nofollow">Ethereum</a> is unfortunately on the decline. The downtrend in volume could be a red flag, suggesting that the recent price increase might be running out of fuel. Volume often confirms trends on the market, and the absence of it during the uptrend is an issue. A price increase on low volume can indicate a lack of commitment from buyers and, sometimes, that the current price action may not be sustainable. <img alt="ETHUSD" data-entity-type="file" data-entity-uuid="f55cb6c0-c8dc-445a-8f90-350669185786" src="https://u.today/sites/default/files/inline-images/image_709.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">ETH/USD Chart by TradingView</a>
If it can gather the strength to push past the 26 EMA resistance, which is around $3,236, we could see a more definitive move toward higher levels. However, if it fails to, there is a risk of a slip back to lower prices. The next significant level of support lies around $2,890, which could serve as a landing spot for the <a href="https://u.today/ancient-ethereum-whale-dormant-for-nine-years-suddenly-awakens" rel="noopener noreferrer nofollow">price</a>.
The immediate future of Ethereum is uncertain. There's a need for increased trading volume, as it would support the current rally. Without it, the recent break above $3,000 might not lead to the performance that many hope for.
While Ethereum has made some gains, the current trading volume raises questions about the longevity of its run above $3,000. Without a convincing surge in the trading volume and market liquidity, the possibility of a rally continuation is almost nonexistent.

Ethereum (ETH) Trading Volume Delivers Worrying Signal at $3,000

U_Today

Andere artikelen gepubliceerd op 23 apr 2024

Double-Token Meme Coin Ignites Market Frenzy; Crypto Enthusiast Won’t Miss out on the Next Wave o...

Whales Move to BlockDAG Presale Fueled by Keynote Teaser on the Moon & $19.8M as Galaxy Fox Presa...

🚀 NEOPIN Major Updates 3 🚀

Akash Network’s AKT Surges 45% Toward $6M

Moonriver Price Prediction: MOVR pumps 148% in just 1day!

How to Add RPC Networks and Send Crypto From Metamask

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!