Ethereum News

Ethereum Price Analysis: ETH gains 20 percent from the Sunday low, peaks at $4,750?

TL;DR Breakdown

  • Ethereum price analysis is bearish for the rest of today.
  • ETH/USD saw further upside above $4,550 previous high.
  • Resistance is currently found at $4,750.

Ethereum price analysis is bearish today as we expect a retracement to follow after a strong spike higher was seen again today. However, ETH/USD bulls are likely exhausted after reaching $4,750, and we can expect a retracement over the next 24 hours.

Cryptocurrency heat map. Source: Coin360

The cryptocurrency market has seen bullish momentum continue today. The market leaders, Bitcoin and Ethereum, have gained 2.45 percent, while Ethereum 8.1 percent. Meanwhile, the rest of the top altcoins follow with similar results.

Ethereum price movement in the last 24 hours: Ethereum retests $4,400 as support, spikes to $4,750

ETH/USD traded in a range of $4,332.10 – $4,753.27, indicating strong volatility over the last 24 hours. Trading volume has increased by 37.24 percent, totaling $26.25 billion, while the total market capitalization trades around $555.6 billion, resulting in a market dominance of 20.73 percent.

ETH/USD 4-hour chart: ETH rejects further upside at $4,750

On the 4-hour chart, we can see the Ethereum price reacting after reaching the $4,750 resistance, likely indicating the end of the current rally.

ETH/USD 4-hour chart. Source: TradingView

Ethereum price has seen strong bullish momentum return since Sunday. The rally came after a strong drop of almost 15 percent on Friday when Ethereum found support at $3,950 once again. 

From there, consolidation followed until another test of the support was seen late in the weekend. Bulls quickly rejected further downside, leading to a swift rally higher over the next 24 hours.

By the start of Today, Ethereum price had already cleared past the $4,400 previous resistance. After a slight retracement, another more upside followed Today, leading ETH to a new high at  $4,750.

Ethereum Price Analysis: Conclusion

Ethereum price analysis is bearish today as we saw strong resistance reached at $4,750 after a 20 percent advance over the past days. Therefore, we assume bulls are exhausted, and ETH/USD should be headed for a retracement later today.

While waiting for Ethereum to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

This post was last modified on November 30, 2021 5:03 pm


Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

Recent Posts

Solana price analysis: SOL price slips to $84 as bears maintain the downtrend

TL;DR Breakdown The Solana price analysis is bearish.Bears have taken the price levels down to… Read More

January 24, 2022

OKO Miners Announces Attractive Deals on Several Mining Products

Jersey, United Kingdom, 24th January, 2022, ChainwireOKO Miners is one of the largest cryptocurrency mining… Read More

January 24, 2022

MetaVisa will start the IEO sale of MESA token on BitMart

HongKong, China, 24th January, 2022, ChainwireMetaVisa, a Web3.0 middleware protocol, officially announced that it has… Read More

January 24, 2022

Top Crypto Youtubers fall prey to Crypto scam

TL;DR Breakdown Several popular Youtubers found themselves victims in crypto scams attack on 23rd January… Read More

January 24, 2022

Litecoin price analysis: Latest downswing brings price level back to $98.9 low

TL;DR Breakdown Price has been lowered to $99 level.Litecoin price analysis shows downtrend.Support at $105… Read More

January 24, 2022

South Korea begins exploring crypto as household asset

TL;DR Breakdown • South Korean authorities are planning to include cryptocurrency in the annual household… Read More

January 24, 2022

This website uses cookies.