Ethereum (ETH) has experienced notable price fluctuations recently. In the past week, its price declined by 13.66%, moving within a range of $3,648.43 to $4,137.17. Over the last month, however, it saw a gain of 7.75%, indicating some positive momentum amid the volatility. Looking at the six-month timeframe, Ethereum’s price decreased by 4.14%, reflecting a mixture of short-term gains and longer-term challenges.
Technical indicators provide insight into Ethereum’s current state. The Relative Strength Index (RSI) stands at 31.82, which is near the oversold threshold. This suggests that the asset may be undervalued at present levels. The Simple Moving Average over 10 days is $3,403.46, below the 100-day average of $3,807.62, showing a dip in short-term pricing compared to the longer-term trend. The Moving Average Convergence Divergence (MACD) level is at -85.71, indicating bearish momentum, while the stochastic value of 13.16 is low, often associated with oversold conditions.
Considering support and resistance levels, if Ethereum’s price moves upward, it may encounter resistance at $4,317.86, which is about 18% above the current lower price range. Surpassing this, the next resistance level is $4,806.60, approximately 32% higher. On the downside, the nearest support level is at $3,340.38, about 9% below the current price. If the price falls further, the second support level is $2,851.64, representing a potential decline of roughly 22%. These levels are key areas that may influence Ethereum’s price action in the near future.