Ethereum Präis Analyse: ETH retestéiert $ 1,650, bereet sech lues a lues op en anere Réckgang vir?

Ethereum price analysis is bearish today as we have seen swift move back to the $1,650 previous high, where resistance prevented further upside. From there, ETH/USD will likely start moving lower and look to set another higher low.

The overall market has traded with mixed results over the last 24 hours. The leader, Bitcoin, gained 1.18 percent, while Ethereum lost 0.74 percent. The rest of the market saw similar undecisive results.

Ethereum price movement in the last 24 hours: Ethereum forms double top reversal

ETH / USD gehandelt an engem Beräich vun $ 1,617.54 bis $ 1,660.49, wat eng mild Volatilitéit iwwer déi lescht 24 Stonnen ugeet. Den Handelsvolumen ass ëm 9.47 Prozent erofgaang, am Ganzen $ 15.48 Milliarden, wärend de Gesamtmaartkapital ëm $ 199.8 Milliarde gehandelt huet, wat zu enger Maartdominanz vun 18.87 Prozent resultéiert.

ETH/USD 4-hour chart: ETH ready to return below $1,600?

Op der 4-Stonn Chart kënne mir gesinn Ethereum Präis action starting to move lower, likely leading back below $1,600 support.

ETH / USD 4-Stonneplang. Quell: TradingView

Ethereum price action has seen a strong swing high set at the end of October at the $1,650 resistance. Steady retrace followed immediately, leading ETH/USD towards the $1,500 support over the course of several days.

A slightly higher low was set on Wednesday, leading to consolidation formed before another attempt to move higher was seen overnight to Friday. From there, ETH retested the $1,650 major resistance, with a clear reaction as soon as the mark was tested, indicating that double top reversal will soon be set.

Over the past hours, Ethereum price action has started to move lower, indicating that further downside will be reached later in the weekend. Likely ETH/USD will look to set another higher low above $1,500 before more upside can be seen. Alternatively, if the $1,500 mark breaks, we expect a lot more selling to follow next week.

Ethereum Präisanalyse: Conclusioun 

Ethereum price analysis is bearish today as we have seen a rally back to the $1,650 previous high with a clear respect for the resistance seen over the past hours. Therefore, ETH/USD should begin to decline once more over the next hours, likely as another higher local low will be set.

Wärend op Ethereum waart fir weider ze goen, kuckt eis Präisprognosen op XDC, Kardan, an Curve.