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Ether Uptrend Is Weakening, Could Test Lower Support: Technical Analysis

Ether is facing resistance from all-time-highs and could see lower support, initially around $1,561.

By Damanick Dantes
Updated Sep 14, 2021, 12:24 p.m. Published Mar 11, 2021, 12:18 p.m.
Ether prices have softened recently after a powerful bull run over the past year.
Ether prices have softened recently after a powerful bull run over the past year.

Ether (ETH), the second largest cryptocurrency by market cap, is up about 140% for the year to date, but the uptrend has slowed since January. The first level of support is around $1,561, defined by its 50-day volume weighted moving average.

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  • The relative strength index (RSI) made a series of lower highs since January, diverging from ETH’s uptrend.
  • Initial support for ETH is around $1,561, with lower support around the $1,300 breakout zone.
  • Resistance remains around the $2,000 level, which set in February as fresh all-time-high for ETH.
  • ETH has trailed bitcoin (BTC) since the Chicago-based commodities exchange CME launched its new ether futures contract in early February.
Chart shows RSI divergence with ETH uptrend.
Chart shows RSI divergence with ETH uptrend.

Ethereum NewsBitcoin PriceTechnical Analysis

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