The latest Ethereum price analysis confirms that the price has been on a steady uptrend for the past few hours, spiking up to the $1,836 level. However, despite this minor setback, the Ethereum price analysis shows that bulls have not given up and have started to gain more control of the market. The ETH/USD pair is currently trading at the $1,788 level and is expected to move higher in the near future.
The ETH/USD pair started the day on a positive note; however, the bullish pressure was quickly rejected at the $1,836 resistance level. The bears were unsuccessful in pushing the price lower, and ETH/USD quickly regained its bullish momentum. From here, bulls started to push for higher levels and faced a minor setback near the $1,800 mark.
ETH/USD 1-day price chart: ETH value receives a boost above $1,788 level today
The 24-hour Ethereum price analysis shows that the price is going high once again as the green candlesticks continue to form on the price chart. Although the cryptocurrency faced substantial loss at some hours today, however, the price is now moving in the ascending direction again. The Ethereum price has reached a $1,788 position today, with an increase of 1.44 percent in the value over the past 24 hours.
The price is above the moving average (MA) value as well, which is currently settled at $1732, indicating that the market sentiment is bullish. The Moving Average Convergence Divergence (MACD) line has crossed above the signal line and is signaling a buying opportunity in the near future. The Relative Strength Index (RSI) is also bullish as it trades above the 60-level at $72.51 on the daily chart.
Ethereum price analysis: Recent developments and further technical indications
The price is going up according to the 4-hour Ethereum price analysis. The bulls had been leading quite consistently for the last four hours, as an uptrend is at its peak. The price almost crossed the resistance present at $1,836, but the bears may intervene by bringing the price down in the coming time as the price has reached the resistance zone. The price is still standing above the moving average indicators’ value, which is present at the $1566 position in the four hours price chart.
The Moving Average Convergence Divergence (MACD) indicator is in the positive zone. The MACD line is trading above the signal line on the hourly chart. The histogram further confirms the bullish sentiment in the market as the bar is currently in the green color, which indicates an increase in buying pressure.
Ethereum price analysis conclusion
In conclusion, Ethereum bulls have been in control of the market and appear to be pushing for higher levels. The price is supported by strong technical indicators, which suggests that further gains are likely in the near future. Ethereum will continue to experience uptrends as long as the bullish pressure remains intact.
