Ethereum Sustains Below $2,100 Psychological Area – Can Strikes Higher?


Ethereum has become volatile and currently residing inside the ranges of $2,150 to $1,920 area. Ethereum sustains below $2,100 psychological key level. Can ETH strikes higher in the coming days? What are the charts and technical indicators are saying? Read more to find further insights into today’s ETH/USD Technical Analysis. 

April 9, 2021, | AtoZ MarketsEthereum price rose today morning during the Asian session against the U.S. Dollar. After rejecting $2,150 to $2,100 key area, the bears have regained momentum and pushed lower, but failed to continue the bearish pressure below $1,950 to $1,920 area. Ethereum is currently trading around $2,075 area and trying to recover higher. As per the current price action, ETH may face strong resistance around $2,150 to $2,100 area again in the coming days. 

Ethereum Sustains Below as the Key Resistance Working Strongly 

Ethereum is currently residing near $2,075 area and trying to push upside. However, the price broke over the Bollinger Bands middle band on the intraday chart. 

Ethereum Sustains Below

Image: Ethereum 4 Hour Chart

According to the 4-hour chart, Ethereum sustains below and currently trading around $2,075 area. As per the current scenario, the price may recover higher towards $2,100 to $2,150 area in the days ahead. So, if the price can break above $2,100 to $2,150 area with an impulsive bullish candle, the bulls may sustain the bullish pressure towards $2,250 to $2,280 area in the process. Alternatively, if the price rejects $2,100 to $2,150 area with an impulsive bearish candle close, the bears may regain momentum and decline towards $1,950 to $1,920 area in the coming days. 

Furthermore, the dynamic level of 20 EMA is currently residing below the price. Along with the Bollinger Bands middle band. So, the dynamic level may hold the price as strong support in the process. Besides, the Bollinger Bands middle band may work as a confluence of the dynamic level in the coming days. 

ETH May Continue the Bullish Trend 

According to the daily chart, Ethereum sustains below, but the overall bias is still bullish. As per the current price action context, if the price can have an impulsive daily bullish candle close over $2,100 to $2,150 resistance area, the bulls may sustain the bullish trend towards $2,250 to $2,280 area as a first target. The second target will be $2,450 to $2,500 area if the price can break above $2,250 to $2,280 area in the coming days. 

Ethereum Sustains Below

Image: Ethereum Daily Chart

In addition, the dynamic level of 20 EMA is currently residing below the price. Along with the Kijun line and the Tenkan line. So, the dynamic level may work as strong support to push the price upward. Besides, the Kijun line and the Tenkan line may work as a confluence of the dynamic level in the process. 

To conclude, after an impulsive bullish momentum, the price has successfully retraced towards the dynamic level on the daily chart. As the overall bias is bullish, there is a high chance that ETH may recover further higher in the coming days. 

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