Ethereum Technical Analysis |19-Apr-22

19 April 2022 | ZebPay Trade-Desk

The second-largest crypto by market cap witnessed a short-covering and is up by 5% from yesterday’s low. Ethereum’s dominance is at 19.42% and the market capitalization stands at $366bn. The merger of Eth2.0 has been pushed back further, as informed by core developer Tim Beiko. However, there hasn’t been much immediate effect or an after effect of the announcement on the price of the asset. The current condition suggests that bulls are trying to trap aggressive bears.

At the time of writing, ETH was trading at $3,044.



ETH after facing stiff resistance at $3,600  witnessed a sharp correction. The asset fell almost by 19.5% and made a low of $2,883. The asset took support at the key levels of $2,870 (50% Fibonacci Retracement Level) and bounced back above the $3k mark. The  lower longer shadow around the support indicates that the bulls are buying at lower levels. However, ETH is still trading sideways from $2,950 to $3,100 with low volumes. Once the breakout occurs above $3,155 (200 Day Moving Average) with good volumes then we can expect a good rally and the prices can surge up to $3,600 levels.

Support 2Support 1AssetResistance 1Resistance 2
$2,650$2,870ETH$3,155$3,415

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation, or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness, or reliability of the information, opinions, or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum, etc. are very speculative and are subject to market risks. The analysis by the Author is for informational purposes only and should not be treated as investment advice.

ZebPay Weekly

Subscribe for latest crypto news & stay updated!

    Start Trading Now