Ethereum Präis Analyse: ETH fänkt Réckgang, Ënnerstëtzung bei $ 1,720 hält nach

Ethereum price analysis is bullish today as we have seen failure to move any higher and previous lows tested at the $1,720 support. Likely ETH/USD will move for another push lower later today, beginning a much more substantial several day retrace later in the week.

The market has traded in the green over the last 24 hours. The leader, Bitcoin, gained 3.82 percent, while Ethereum lost 0.96 percent. Meanwhile, the rest of the top altcoins traded in between.

Ethereum price movement in the last 24 hours: Ethereum continues reversal

ETH/USD traded in a range of $1,721.63 to $1,782.73, indicating mild volatility over the last 24 hours. Trading volume has increased by 30.71 percent, totaling $16.27 billion, while the total market cap traded at $213.57 billion, resulting in market dominance of 19.87 percent.

ETH/USD 4-Stonn Chart: ETH gesäit méi niddereg weider?

Op der 4-Stonn Chart kënne mir gesinn Ethereum Präis action reacting slightly higher as bears prepare to break past the $1,720 support.

Ethereum price action has seen several days of bullish momentum from the $1,500 support. After an initial rally to $1,650, ETH/USD began consolidating on Friday, indicating a lower high will be set.

However, further upside quickly followed during the weekend, leading to the next resistance at $1,720. Another consolidation failed to reverse the market, with a quick spike setting the ass haut um 1,790 $.

Since then, Ethereum price has formed steady reversal consolidation and started to retest previous lows. Therefore, we expect the current retest of upside to create a base from which to break past the $1,720 previous low.

Ethereum Präisanalyse: Conclusioun 

Ethereum Präis Analyse is bearish today as we have seen steady reversal below $1,800 and a quick drop to $1,720 previous support. From there, ETH/USD has made a slight reaction lower, indicating that a lower local high will be set and selling pressure will return soon. 

Wärend op Ethereum waart fir weider ze goen, kuckt eis Artikelen iwwer wéi Dir kaaft kaafen Litecoin, Filecoin, an polkadot.