Blog_2Blog_2Blog_2Blog_2
  • CRYPTO NEWS
    • Daily Crypto News
  • TOPICS
    • Futures Trading
    • Crypto Basics
    • Defi
    • Metaverse
    • NFT
    • Blockchain
  • CRYPTO VERSE
    • Personal Finance
    • Cryptocurrency
    • Price Predictions
    • Crypto Deep Dives
  • PRODUCT
    • Tutorials
    • Product Features
    • Security Compliance
  • COINDCX
    • Announcement
    • Community
    • Crypto Competition
    • Listings
    • Opinion
    • Stories
Visit CoinDCX
✕
            No results See all results

            Ethereum Technical Analysis: Will the Rise in Activity Uplift the ETH Price Above $1500?

            October 14, 2022
            Etherum Technical Analysis

            Table of Contents

            • Key Takeaways:
            • Technical Analysis for October 2022
            • Technical Analysis at a Glance
            • Technical Indicators & Pivot Levels
            • Pivot Levels
            • Ethereum On Chain Analysis 
            • Ethereum (ETH) Technical Analysis for Short Term
            • Ethereum (ETH) Technical Analysis for Long-Term
            • Where & How to Buy Ethereum(ETH)?
            • FAQs
            • Is Ethereum bullish or bearish?
            • What is the current RSI for ETH?
            • Is it a good time to buy ETH?

            Key Takeaways:

            • The Ethereum price closed the previous day’s trade at $1287.5 with a market capitalization of $156.31 billion and a circulating supply of 122.7 million.
            • Ethereum price continues to hold firm above the crucial support zone hinting towards the revival of a strong bullish surging beyond $1400 soon.
            Current Price $1323.45
            Market Cap $162.46
            Circulating Supply 122.78 million
            Supply Inflation Rate 0.54%
            Vol (24H) $19.33 billion
            Change (7D) -2.35%

            Technical Analysis for October 2022

            The Ethereum price underwent a significant drop soon after the successful transition from PoW to PoS, called the Merge. Since then, prices have been struggling mightily to maintain levels above $1250 as they are unable to penetrate the levels at $1380. Therefore, consolidation is expected until the weekend as the market sentiments do not appear in the favour of the bulls. 

            The ETH price is currently trading in a decisive phase and will reach the apex during the weekend. A positive movement may take the price beyond $1400, or else a drop may again drag the price close to $1250. However, in that case, the lower support at $1237 may hold the price and ignite a firm rebound quickly.

             Therefore, by the end of the month, the ETH price may trade under $1450 and accumulate strength to pull off a massive leg up in the coming months. 

            Read More: Ethereum Shanghai Upgrade

            Technical Analysis at a Glance

            Given the current price levels, it would be difficult to imagine that the price of ETH was trading above $3,500 at the start of 2022. However, the token still appears to be poised to regain the lost levels as it continues to trade with a 4-digit figure, withstanding the bearish pressure. Therefore, the volatility may intensify with the advancement towards the end of the yearly trade. Hence, a spike beyond the pivotal resistance may be imminent in the upcoming days. 

            Short-Term (4Hrs) The price of ETH is attempting to maintain a notable upswing, but the lack of volume could slow the rally’s momentum.
            Mid-Term (Daily) Despite a dropped volatility the price is utilising all its resources to maintain a decent upswing
            Long-Term (Weekly) Given that the buying pressure is waning, the long-term outlook for the ETH price appears to be somewhat bearish. 

            Technical Indicators & Pivot Levels

            Indicator Value (Short Time Frame /High Time Frame)(5Hrs/Weekly) Action (Short Time Frame /High Time Frame)(5Hrs/Weekly)
            Relative Strength Index(RSI) 54.37 /39.40 Neutral / Sell
            MACD -6.0 /-340.17 Sell / Sell
            Average Directional Index(ADX) 30.21/20.33 Buy /Sell
            Ultimate Oscillator 56.73 /50.93 Buy /Neutral
            Bull-Bear Power 60.63 /-452.66 Buy /Sell

            Pivot Levels

            Moving Average Short Term Long Term
            MA 5 $1286.81 $1346.16
            MA 10 $1289.10 $1511.26
            MA 20 $1290.51 $1463.07
            MA 50 $1320.35 $2500.76
            MA 100 $1320.85 $2376.74
            MA 200 $1428.96 $1298.56

            Ethereum price are displaying a huge amount of bullish momentum nowadays, and hence a notable upswing may be imminent in the short-term. While in the long-term the prices exhibit the possibility of falling into a deep bearish well. While the major indicators are bullish in STF, a short-term bounce appears to be imminent raising the price close to $1500. 

            Conversely, in the long term, the bears are expected to regain the dominance that may compel the price to slash hard. The levels of MACD & Bull-bear power point towards a huge drop in the prices that may end the yearly trade on a bearish note. 

            Ethereum On Chain Analysis 

            •  The percentage of the ETH on exchanges has been rising consistently indicating that the market for the crypto is active. A high ratio indicates huge liquidity is available for the market participants to either buy or sell. 

            Source : Santiment

            • Active addresses have been raising for the past week after they rebounded firmly from nearly 4.5 million to the current levels of close to 6 million per day

            • The development activity over the platform has witnessed a significant drop ever since the Ethereum Merge was accomplished successfully

            Source: Santiment

            • The MVRV ratio or the Market Value to Realized Value, used to determine whether the token is overvalued or undervalued. It has risen within the positive ranges and hence appears to have traded within the overvalued range from the past month signifying the revival of a notable bullish trend

            Ethereum Technical Analysis

            Source: Santiment

            Ethereum (ETH) Technical Analysis for Short Term

            Source: Tradingview

            • The ETH price has bounced firmly after testing the lower horizontal support and presently testing the upper resistance
            • The token is still consolidating along the resistance, which raises the prospect of a slight pullback in the meantime.
            • However, the ETH price is anticipated to rebound and surge back toward the resistance after testing the support again at $1280.
            • If the bulls continue to provide the necessary support at this point, then a significant upswing may soon push the price past $1400.

            Ethereum (ETH) Technical Analysis for Long-Term

            Source: Tradingview

            • The Ethereum price is trading within a decisive pennant triangle for more than a month and presently trading along the lower support
            • An extended squeeze is mounting huge bearish pressure over the token which is expected to offer a catapult action soon
            • With a jump, the ETH price may slice through the triangle and rise beyond the crucial resistance at $1480
            • In the event of a pullback, the price may retrace and test the lower support level at $1250 before launching a powerful rebound.

            Where & How to Buy Ethereum(ETH)?

            If you want to buy the most popular crypto, Ethereum, then download the CoinDCX App on your smartphone. You need to enter the required details and wait for verification. Meanwhile, you can also complete your KYC. Once your profile is verified, transfer funds to the CoinDCX wallet and buy ETH. 

            FAQs

            Is Ethereum bullish or bearish?

            The ETH price is slightly bullish in the short term due to coiling market sentiments. Market participants may anticipate a modest trend in the short term, but the long-term outlook for Ethereum is largely bullish.

            What is the current RSI for ETH?

            The RSI for the short-term is 54.37 while in the long term it is 39.40.

            Is it a good time to buy ETH?

            Ethereum is considered as a stable asset which does not possess huge volatility as other assets. Hence with a deep research and better understanding, one can determine the right time to buy Ethereum.

            Related: Top Crypto News
            Share
            0
            CoinDCX
            CoinDCX

            Related posts

            May 31, 2023

            Bitcoin Technical Analysis: BTC Price Feared To Drop Below $27,000 Again!


            Read more
            February 23, 2023

            How to find Support and Resistance Zones in Crypto | Crypto Trading 101


            Read more
            NEAR Technical Analysis
            January 11, 2023

            Near Protocol Price Prediction: Could Near Protocol hit $10 in 2023?


            Read more

            Recent Posts

            • 0
              What is Radiant Capital (RDNT)? How To Buy RDNT Token In India?
              June 9, 2023
            • 0
              Ethereum’s Dencun Upgrade: Enhancing Scalability and Reducing Transaction Fees
              June 9, 2023
            • 0
              What is IDEX (ID)? How To Buy ID Token In India?
              June 8, 2023
            • 0
              Ethereum Price Prediction 2023: When Will ETH Price Breach $2000 Again?
              June 8, 2023
            • 0
              With BTC Halving 2024 Coming Closer, Only Efficient Miners of Bitcoin Can Survive
              June 8, 2023
            • 0
              Bitcoin’s Stock-To-Flow Model and How You Can Use it To Invest in BTC!
              June 7, 2023
            • 0
              Testnets vs Mainnets: Everything You Need To Know!
              June 7, 2023
            • 0
              Is The Bitcoin Bear Market Over? A Historical Analysis and Future Outlook
              June 7, 2023
            • Top Use Cases of AI in Blockchain & Crypto0
              Blockchain and AI in Crypto: Use Cases, Projects, and Challenges
              June 7, 2023
            • How to use ChatGPT for Crypto Research?0
              An Ultimate Guide to Crypto Research with ChatGPT
              June 7, 2023
            • 0
              What is SIDUS HEROES (SIDUS)? How To Buy SIDUS Token In India?
              June 7, 2023
            • 0
              A Guide to Use Long/Short Ratio in Crypto Futures Trading
              June 7, 2023

            Categories


            • BTC to INR


            • ETH to INR


            • USDT to INR


            • USDC to INR


            • BNB to INR


            • BUSD to INR


            • XRP to INR


            • ADA to INR


            • SOL to INR


            • DOGE to INR


            • SHIB to INR


            • MATIC to INR


            • TRX to INR

            Invest in Bitcoin, Ethereum, & other 200+ crypto assets.
            Download the app now, register & start with as low as Rs.100
            ios download link
            android download link
            qr code for download

            COMPANY

            Security
            Blog
            About
            Careers
            Referral Program

            PRODUCT

            Margin
            Trade
            Futures
            Insta
            Convert
            Lend
            Markets
            API Documentation

            SUPPORT

            Contact Support
            Frequently Asked Questions (FAQ)
            Contact Us

            • Customer Support: [email protected]
            • Team: [email protected]
            • Press: [email protected]

            SOCIAL LINKS

            Icon of FacebookFacebook
            Icon of FacebookTwitter
            Icon of InstagramInstagram
            Icon of TelegramTelegram
            Icon of LinkedInLinkedIn
            Icon of RedditReddit

            Logo of CoinDcx Download our Android/iOS App: CoinDCX Ⓒ All rights reserved by Primestack Pte. Ltd.

            DISCLAIMER

            The information and material contained herein are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary to CoinDCX, its parent, Licensor and/or its affiliates and is for informational purposes and informed investors only. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. Note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

              Visit CoinDCX
                        No results See all results
                          Go to mobile version