ETH Crypto Trading in a Strong Demand Zone, New Highs Ahead? – The Market Periodical

  • Ethereum was in the green for only 13 days in the last 30 days.
  • Expert says, that ETH crypto has already outperformed and may dip to $3000 in the upcoming days.

ETH is expected to advance to higher levels after the launch of ETF of the Ethereum while Rew Kang says that despite of surge, the price of the crypto might decline to further lower levels.

Following the last one month from the press time, the price of the crypto is down by  10.61%. Additionally, the crypto has witnessed a huge surge in its trading volume while the market cap has declined by 5.2% in the last 24 hours.

The market cap value of the Ethereum crypto is $404.776 Billion at press time which makes it the second largest cryptocurrency in the global crypto market. This further results in a strong market presence followed by a market cap dominance of 17.73%.

Ethereum Crypto Blockchain Analysis

The Total Value locked for the Ethereum crypto has started to advance again followed by the last few days. Moreover, the TVL of the crypto is $59.697 Billion, which is much higher than Bitcoin

This shows the advance in the investor confidence for the future performance of the crypto.

Blockchain Data Trend Overview Of Ethereum | Source: DefiLlama

The stablecoin market cap of the Ethereum crypto has also advanced over the last few days followed by the surge in TVL. This shows that the price of the crypto is stable and has larger funds stored in it.

ETH Crypto Technical Analysis

After reaching a high of $3,974, ETH has paused, experiencing some profit bookings. This comes after a notable breakout from the descending triangle pattern on the daily chart, which led to a 25% surge in just a few days. 

ETH Crypto Daily Price Chart | Source: Tradingview

Despite this significant rise, the price has slightly declined from its recent highs. Looking forward, a crucial resistance level is identified at $3,780. 

If ETH can break above and sustain this level, it may indicate a continuation of the uptrend, suggesting further price increases in the near future.

ETH/USD Chart by TradingView

The technical indicators on ETH’s daily chart support the potential for an uptrend. Currently, the price is finding support at the 50-day EMA, a positive sign for continued bullish momentum.

Additionally, the 50-day and 200-day EMAs have produced a golden crossover for an extended period, further reinforcing the bullish sentiment. This long-standing crossover indicates a strong underlying trend.

However, the MACD presents a conflicting signal as it is trading in a bearish crossover. Despite this, both the MACD and the signal line are positioned in a bullish trajectory, suggesting underlying positive momentum.

Meanwhile, the RSI has declined below both the 50 and the 14-day SMA, signaling weakness in the crypto’s momentum. It would be prudent to wait for the RSI to rebound above the 50 level to confirm renewed strength in the uptrend.


ETH is trading in a strong demand zone, showing potential for new highs. Despite a slight decline from $3,974, it finds support at the 50-day EMA.

Key indicators like the golden crossover and MACD suggest underlying positive momentum, with a crucial resistance at $3,780 indicating further price increases if breached. 

The support levels for the ETH crypto are $2800 and $3100 followed by the resistance levels of $3600 and $3980.


This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.


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