Ethereum Technical Analysis Report

12 April 2022 | ZebPay Trade-Desk

Eth is currently trading in red with about a 6.2% fall in the last 24 hours. The market is witnessing a lack of aggressively buying bulls which has given the bears to continue the selling off. The bulls will now try to put the price above the $3,000 level and if it rebounds at this level then consolidation can be witnessed at $3,400.

At the time of writing, ETH was trading at $2,971.

ETH after surging from $2,500 to $3,578 faced stiff resistance at $3,600 and witnessed a sharp correction. The asset fell almost by 17% and made a low of $2.953. ETH has strong support at $2,905 (61.8% Fibonacci Retracement Level) and we can expect a bounce from these levels. On the contrary, a break below $2,900 will lead to a further downfall and the prices can slide to $2,725 levels.

Support 2 Support 1 Asset Resistance 1 Resistance 2
$2,725 $2,905 ETH $3,175 $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.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

ZebPay Weekly

Subscribe for latest crypto news & stay updated!

    Start Trading Now