ETH has actually been successful in keeping its rate above $4,000. However, the upwards momentum is weak.
Secret Support levels: $4,000
Key Resistance levels: $4,435, $4,868 (ATH)
ETH’s cost is sitting simply above the $4,000 support level with little volume or volatility. This is typical considering the weekend and the new year’s holidays. The resistance is some distance away at $4,435, and as it appears now– it likely will not be tested at any time soon. Momentum might return in the coming week, before the brand-new year’s evening, or as 2022 starts.
Chart by TradingView Technical Indicators Trading Volume: Volume is extremely low; for that reason the most likely scenario for ETH is to move sideways.
RSI: The daily RSI is curving down due to the absence of momentum. The coming weekdays will be definitive in selecting an instructions for rate.
MACD: The day-to-day MACD stays bullish. Nevertheless, the pie chart made a lower high at the time of this writing. If bullish momentum does not return, this might be a clear indication that the bears might take control of the cost action.
Chart by TradingView Bias The predisposition for ETH is neutral. Regardless of a price above $4,000, the momentum is merely not there to push ETH in any instructions right now.
Short-Term Rate Prediction for ETH
As long as ETH is trading above $4,000 is good news. This essential level needs to be supported by volume and momentum– both are presently missing.
This makes the present price action extremely fragile. For this factor, as quickly as volume and volatility return, there is no assurance that bulls will win this fight. Best to be careful, particularly if ETH closes a day-to-day candle light listed below $4,000 again.
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