CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,169.00
  • ethereum
    ETH$1,585.55
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Ethereum Price Analysis April.1: ETH Consolidation Continues Within Triangle Formations. Breakout Soon?

    Ethereum Price Analysis April.1: ETH Consolidation Continues Within Triangle Formations. Breakout Soon?

    Author: Yaz Sheikh

    Last Updated Apr 1, 2019 @ 12:59

    Ethereum has continued to trade within the consolidation pattern over the past few days as the cryptocurrency trades around $144. The market has now seen a 4% price rise over the past seven days, facing the previous resistance at $145. However, the market has remained within a long-term symmetrical triangle and has dropped back beneath the $145 level.

    Ethereum remains ranked in second position as it currently holds a market cap value getting close to $15 billion.

    Looking at the ETH/USD 1-Day Chart:

    • Since our previous ETH/USD analysis, we can see that Ethereum has now managed to climb above the 100-day moving average line. However, the coin had met resistance at the upper boundary of a long-term symmetrical triangle pattern and was turned away. Price action is now trading at support at the $144 level.
    • From above: The next level of resistance now lies at the upper boundary of the long-term formed triangle. Above this, resistance lies at $152, $161 and $170. The resistance at $170 is strengthened by a long term bearish .618 Fibonacci Retracement level. Above $170 we can expect resistance at $185 and $200.
    • From below: The nearest level of support lies at the lower boundary of the smaller triangle. Beneath this, support lies at $135, $128 and then the lower boundary of the long term symmetrical triangle. If the sellers push the market below the symmetrical triangle, further support lies around $120 and $116.95.
    • The RSI has broken above the 50 level which indicates that the bulls are in control of the market momentum.
    • The trading volume has fallen slightly toward the end of March 2019.

    eth_usd_1apr19-min

    Looking at the ETH/BTC 1-Day Chart:

    • Following our previous analysis we can see that the coin has continued to trade within the confines of the short term descending triangle pattern. Price action had attempted to break higher but failed to maintain above the triangle.
    • From above: The nearest level of resistance lies at the upper boundary of the triangle. The next resistance lies at 0.036 BTC, 0.037 BTC, and 0.038 BTC, before reaching the significant resistance area between 0.04 BTC and 0.0406 BTC.
    • From below: The closest support lies at the 100-day moving average and then lies the lower boundary of the descending triangle at 0.033 BTC. If the sellers drop ETH/BTC beneath the triangle, support is located at 0.0325 BTC, 0.0315 BTC, and 0.030 BTC.
    • The RSI attempted to break above the 50 levels but has since returned to trade along the 50 levels. This indicates indecision within the market as neither faction controls the market momentum.
    • The trading volume has dropped significantly toward the end of March 2019.

    eth_btc_1apr19-min

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Yaz Sheikh
    More posts by this author

    Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

  • bitcoin
    BTC$23,169.00
  • ethereum
    ETH$1,585.55
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!