ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home Price Analysis

ETH Price Analysis: Price Positions on ETH/USD Set for a Recovery Toward $400, DeFi Sector Surge Attracts Ethereum Whales

The Coin Hit a Yearly High at $488 and Fell to $310 Recent Low, Effectively Losing Over 34% in Less Than Five Days

Tomiwabold Olajide by Tomiwabold Olajide
September 11, 2020
in Price Analysis
0
ETH
0
SHARES
88
VIEWS
Share on FacebookShare on Twitter

The crypto-currency market on Friday is a mashed image, though major coins have stayed constant from the day before. Cryptocurrency data provider Skew recently revealed that Huobi Futures’ Ethereum trading volume exceeded Bitcoin as its dominance plummeted to 56.8 percent. The coin hit a yearly high at $488 and fell to a $310 recent low, effectively losing over 34% in less than five days. Ethereum (ETH) has been regaining some ground from lows set at the beginning of the week at $323.17. Despite recent declines, price positions on ETH/USD set for a recovery toward $400. The crypto asset is currently second on the Coinmarketcap table, with a market cap of $41.31 billion and $91.56 billion in trade volume over the past 24 hours. At the time of writing, ETH/USD is changing hands at $365, down nearly 1% on a day-to-day basis. As per data provided by Santiment, the DeFi sector surge has attracted 68 new Ethereum Whales holding 1K to 10K $ETH to the network in the past 3 days. As the amount of ether locked in DeFi protocols stays on a steady increase — the demand for ETH continues to receive a boost.

*The coin hit a yearly high at $488 and fell to a $310 recent low, effectively losing over 34% in less than five days
*Despite recent declines, price positions on ETH/USD set for a recovery toward $400
*As per data provided by Santiment, the DeFi sector surge has attracted 68 new Ethereum Whales holding 1K to 10K $ETH to the network in the past 3 days

Key Levels
Resistance Levels: $450, $400, $370
Support Levels: $355, $335, $300

ETH/USD Daily Chart: Ranging

ETH/USD Daily Chart

Ethereum has rebounded from the prior week’s low of $310 and hit $372 by the time of writing. The price is held beneath the daily MA 50 ($380) which roughly aligns with the upside-horizontal resistance line at $400. There are a few near-term barriers beyond the current mark, such as the $370 resistance level, then the second at $390, and the third at $400.

The daily context suggests that a steady step beyond the aforementioned couple of near-term resistances may trigger the bullish prospects of ETH towards the $450 region. The first support level is at $355 beneath the current price, then the second at $335 and the third at $310. Besides that, an initial positive outlook would be invalidated by a realistic shift beneath the $355 level.

ETH/USD 4-Hour Chart: Ranging

ETH/USD 4-Hour Chart

Ethereum is on the rise alongside several top Altcoins, and Short-term bulls now have the upper hand technically after breaching the 4 hour MA 50 to the upside, the ETH/USD pair continues to trade above the $355.00 level. The technical analysis highlights the $390 level as a potential bullish target while the ETH/USD pair trades above the $355.00 level.

If this case holds further, the price may retest the recent intraday high beyond $370 before another bullish leg to $390. The ETH/USD pair is only bullish while trading above the $370 level, key resistance is found at the $390 and the $400 levels. If the ETH/USD pair trades below the $355, sellers may test the $335 and $310 support levels.

Note: Kryptomoney.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Image Credit: Shutterstock

Tags: Decentralized finance (DeFi)ETH/USDEthereum (ETH)ethereum price analysisEthereum Price Prediction
Previous Post

The Crypto Genius: Join The Lucky Crypto Investment Club

Next Post

Yearn Finance (YFI) Hits $35,000 Following Announcement Of Coinbase Pro Listing

Next Post
private keys

Yearn Finance (YFI) Hits $35,000 Following Announcement Of Coinbase Pro Listing

Recent Stories

Is an Altseason Coming? Chainlink (LINK) Hits New Record Highs of $21.40, Polkadot & Cosmos (ATOM) Surge

Is an Altseason Coming? Chainlink (LINK) Hits New Record Highs of $21.40, Polkadot & Cosmos (ATOM) Surge

January 15, 2021
Quickly

Financial Advisor Introduces Petition for the UK Government to Ban Crypto Transactions

January 15, 2021
LTC Price Analysis: Steep Correction on LTC/USD From $186 High, Flare Networks Announces Litecoin Airdrop

LTC Price Analysis: Steep Correction on LTC/USD From $186 High, Flare Networks Announces Litecoin Airdrop

January 15, 2021
Bitcoin

Bitcoin Falls Below $35k Despite the Unveiling of Biden’s $1.9 Trillion Stimulus

January 15, 2021
cryptocurrencies

The Impact Of Cryptocurrencies On The Global Marketplace

January 15, 2021
What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

January 14, 2021
Trading

PayPal Crypto Trading Volume Climbed $242 In One Day

January 14, 2021
Bitcoin

Government of Pakistani Province Announces Launch of Bitcoin Mining Farms

January 14, 2021
Ethereum

Google Data Reveals “Ethereum” Searches Hit All-Time High

January 14, 2021
BTC/USD

BTC Price Analysis: In a Return Rally BTC/USD Grinds Past $40,000 Amid Grayscale Bitcoin Purchase of $80M

January 14, 2021

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

  • bitcoinBitcoin (BTC) $ 36,728.00 4.46%
  • ethereumEthereum (ETH) $ 1,184.51 3.21%
  • tetherTether (USDT) $ 1.00 0.3%
  • bitcoin-cashBitcoin Cash (BCH) $ 489.03 4.09%
  • binancecoinBinance Coin (BNB) $ 41.70 0.09%
Our websites require cookies enabled to provide you with an uninterrupted experience. Please continue without changing your setting to receive important notifications.I Agree