Ethereum (ETH) Price Analysis
Ethereum (ETH) is looking to go above the resistance at $4,000 as it makes a strong recovery from Tuesday’s low of $3,521. ETH experienced significant volatility on Thursday as it rose to an intraday high of $3,957 and fell to an intraday low of $3,644 before settling at $3,787, registering a decline of 1.48%. However, it recovered on Friday, registering an increase of almost 6% to climb above $4,000 and settling at $4,003. ETH registered a marginal drop on Saturday, slipping below $4,000 and settling at $3,999. However, it reclaimed $4,000 on Sunday after a marginal increase pushed the price to $4,007.
Source: TradingView
ETH could not remain above this level as bearish sentiment intensified on Monday after a sudden crash in the market. As a result, ETH dropped over 7% to an intraday low of $3,504 before recovering to climb above the 20-day SMA and settle at $3,716. Sellers retained control on Tuesday as the price dropped to a low of $3,521 before settling at $3,630 after a drop of 2.32%. ETH made a strong recovery on Wednesday, rising almost 6% and moving to $3,834. The current session sees ETH up nearly 3% as buyers look to push it above $4,000. A move above this level could see ETH push towards $4,400.
