Ethereum Technical Analysis

5th April 2022 | ZebPay Trade-Desk

Eth is currently trading in the green with about 4.5% increase in the last 24 hours. If the current prices sustain above the current level then we can expect a rally towards the psychological level of $4,000 after facing some initial resistance. But if it goes down then buying in the dips are in the picture too.

At the time of writing, ETH was trading at $3,525.

ETH, after giving a breakout at above the ‘Symmetrical Triangle’ pattern, has surged almost by 24% making the weekly high of $3,578. Currently, the asset is consolidating between $3,550 to $34,00 with low volumes. ETH is trying to make a ‘Golden Cross’ pattern ( The golden cross appears on a chart when an asset’s short-term moving average crosses above its long-term moving average indicating the potential for a major rally). Once the prices sustain above $3,650 then we can expect it to further rally up to $3,800 to $4,000 levels.

Support 2Support 1AssetResistance 1Resistance 2

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