Ethereum Bulls And Bears At Crossed Road

Ethereum  price got rejected from $2,000 despite showing strong bullish signs against Tether (USDT) ahead of “The Merge.” The price of Ethereum has struggled to regain its bullish momentum as this has created a mixed feeling between Ethereum bulls and bears. (Data from Binance).

Chart Price Analysis of ETH on The Four-Hourly (4H),

Source: ETHUSDT On| Source: ETHUSDT On

The 4H chart shows that ETH price has remained bullish and is trying to stay above the $1,500 support level. ETH prices trade below the 50 EMA of the 4H chart with more buy orders.

As the price had been oversold, a bullish divergence was formed on the 4H charts. The ETH price surged to $1600 and tried to breach the 50 EMA.

The resistance is at $1,620.

Relative Strength Index of ETH is 45 on the 4H Chart. This suggests moderate buying volume.

Four-Hourly (4H) resistance for ETH price – $1,620.

Four-Hourly (4H) support for ETH price – $1,500.

The Weekly Chart (1W), Price Analysis for ETH

Source: The ETHUSDT on| Source: ETHUSDT On

The price of Ethereum fell to $1,000 per week, but quickly rebounded from that area of support. ETH was then in the region of $2,000.

ETH trading at $1540, despite its bullish sign, is still below the 50- and 200-exponential moving averages (EMA), which act as resistance, preventing ETH from breaking higher. 

Prices of the 50 and 200 EMA are respectively $2,200 and $1.580. If ETH is to rise, it will need to pass this resistance region.

If the price moves above 50 days, it could indicate an immediate relief rebound and the possibility that the trend will be to $3,000.

Weekly (1W) resistance for ETH price – $1,580, $2,200.

Weekly (1W) support for ETH price – $988.

Ethereum (ETH) price analysis on the Monthly Chart 

The price for ETH experienced a bullish trend in the month prior, concluding with bullish sentiments. Talks are now focused on a rally up to $4,000.

With previous month’s candle closed bullish but was soon followed by a bearish candle which saw the price of ETH showing bullish signs short-lived. 

ETH must close above $1,700 monthly in order to trend higher. Many are hoping that ETH will outperform other markets over the next few days.

Monthly resistance for the price of ETH – $2,200.

Weekly support for the price of ETH – $988.

Featured image from Coinpedia. Charts from

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