Ethereum (ETH) Technical Analysis

ETH traders use a variety of signals and technical indicators to predict the trajectory of the price. Although not all methods are necessary to accurately forecast the direction of the market, some key indicators are more commonly used. Identifying Ethereum support and resistance levels gives traders insight into the market's supply and demand while also helping to identify trend reversals. In addition, chart patterns are also widely used by traders to form trend lines that help predict the next candlestick move. Various indicators such as RSI, MA and MACD can be used to determine the direction of long-term trends and attempt to predict future price movements.

Price action is neutral, the price has fallen below the $3,330.43 horizontal resistance area after moving above previously. Such deviations are considered neutral signs. Despite this decline, ETH's price remains %89.82 positive since the beginning of the year.

Current Ethereum coin price

Ethereum price is currently at $3,476.99 (ETH/USD) with a market capitalization of 417.8B. The 24-hour trading volume is 3.4B USD, - %1.41512 shows negative. With a circulating supply of 120.2M, the price movement of Ethereum is currently negative.

Fundamental analysis of Ethereum coin

Fundamental analysis aims to evaluate the inherent value of an asset, while technical analysis involves examining statistical patterns in the price and volume of that asset. Both techniques are used to analyze and predict potential future price developments of that asset. In the case of ETH, the simplest way to perform fundamental analysis is to look at supply and demand dynamics. Additionally, market capitalization (417.8B) and circulating supply (120.2M) can be considered to make reasonable price assumptions for the future. On the demand side, it is possible to look at on-chain data related to the number of new and active addresses as well as the number of transactions.$ETH #ETH_ETFs_Trading_Today #BinanceSquareFamily #BinanceTurns7