By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Ethereum Price Is Declining Following The Merge, Vital Trading Levels To Follow
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Ethereum Price Is Declining Following The Merge, Vital Trading Levels To Follow
crypto

Ethereum Price Is Declining Following The Merge, Vital Trading Levels To Follow

admin Published September 18, 2022
Last updated: 2022/09/18 at 6:48 AM
Share
SHARE

[ad_1]

The Ethereum price showed no positive effect despite the successful completion of the Merge.

Contents
Ethereum Price Analysis: One Day ChartTechnical Analysis

Over the last 24 hours, the coin depreciated by 2%, and in the last week, Ethereum noted a 17% decline. At the moment, ETH is trading sideways with very little change in price.

A further drop in prices would mean that Ethereum could be captured by the bears. Technical indicators have turned bearish at the time of writing.

Sellers are dominating at the time of writing, which points towards increased chances of the bears taking over.

The current support line for Ethereum was $1,350, and if buyers push back into the market, Ethereum could move slightly upwards.

Ethereum could be facing strong resistance at the $1,500 price level.

Bitcoin’s chart also hasn’t looked very positive in the past few days as BTC revisited the $19,800 price zone. Increased buying power could lead to a short-term breakout near the $1,500 price zone for Ethereum.

Ethereum Price Analysis: One Day Chart

Ethereum was priced at $1,431 on the one-day chart | Source: ETHUSD on TradingView

ETH was trading at $1,431 at the time of writing. The coin was moving further close to its immediate support line of $1,350.

The immediate resistance mark for Ethereum was at $1,500, which earlier acted as a support zone for the coin.

It is now consolidating near the $1,400 price zone. With buyers coming back into the market, Ethereum might be able to zoom past the $1,500 price level.

However, it is yet to be seen how long the coin manages to trade above its overhead resistance. The amount of Ethereum traded declined in the past session, signalling that sellers have taken charge of the price action.

Technical Analysis

Ethereum Price
Ethereum displayed a fall in buying strength on the one-day chart | Source: ETHUSD on TradingView

ETH registered a fall in the number of buyers as they seemed to have lost confidence in the asset given that Ethereum barely registered positive movement after the completion of the Merge.

The Relative Strength Index was below the half-line, as an indication that buyers left the market.

The Ethereum moved below the 20-SMA line, and that was also another indication of the sellers’ driving the price momentum in the market.

Buying strength can help ETH rise above the 20-SMA, reinstating some positive price action.

Ethereum Price
Ethereum depicted a sell signal on the one-day chart | Source: ETHUSD on TradingView

Other indicators of Ethereum have also depicted bearish price action, with an intense sell-off across most indicators.

The Awesome Oscillator measures the price momentum and the overall direction of the asset. AO depicted red histograms underneath the half-line, signifying the sell signal for the coin.

Bollinger Bands depict price volatility and fluctuations.

The bands narrowed, which was indicative of rangebound price movement for Ethereum.

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin September 18, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Adobe buys Figma, Uber gets hacked, and Google shrinks Area 120
Next Article XRP Price Rallied 7%, Is It Gearing To Test The Next Resistance?

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?