- Ethereum faces resistance at $225
- The coin targets $240 and $250 price levels
Ethereum (ETH) Current Statistics
- The current price: $212.91
- Market Capitalization: $23,575,956,101
- Trading Volume: $29,037,252,121
- Major Resistance Zones: $175, $200, $225
- Major Support Zones: $125, $100, $75
Ethereum (ETH) Price Analysis April 30
Ether’s upward move was short-lived as the crypto faces selling pressure after testing $225 resistance. Analysts believe that the crypto will rise and test the high of $240 and $250. Today, the uptrend was terminated at $225 as the cryptocurrency fell and found support above $200. The ability of the bulls to defend $200 support will enable ETH to resume a fresh uptrend.
The recent downtrend was attributed to the overbought condition of the coin. The coin reached a high of $225 as sellers emerged to push prices downward. The bulls are expected to hold the $200 support for the resumption of a new uptrend. On the other hand, if the bears turn around and break below $200 support, the first biggest altcoin will be in a bad picture. This is because the other altcoins are rising.
Ethereum Technical Indicators Reading
Ethereum is in the overbought region of the market as indicated by the daily stochastic. The stochastic bands are making a U-turn indicating that the strong bullish momentum is becoming weak. What is in place is the price bars which are above the EMAs indicting that the upward move is ongoing. A break below the EMAs will mean a downward movement of prices.
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