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

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