Ethereum price analysis shows that the token is likely to lose the $3,000 price level, giving it a bearish note for today. Although ETH bulls are holding the $3,000 level for now, it is not known how long they will be able to maintain this level. If Ethereum loses the $3,000 level, it can hold at $2,700-2,800.
According to data from CoinMarketCap, Ethereum’s trading volume has increased by 21.56% in the last 24 hours, while the market cap of the token has dropped by 4.23%. Also, the Volume/Market Cap Ratio stands at 0.058, while the token’s Market Dominance stands at 19.31%.
The daily candle for Ethereum opened at $3,006 and reached $3,173. Also, the token has a daily low of $2,962. At the time of writing, ETH is trading at $3,012.
Ethereum Price Analysis on Daily Chart
Ethereum price analysis for April 22 has been evaluated by considering data from 3 main indicators in the chart below.
Although the MACD indicator is located below the MACD line signal line, both lines are very close to each other.
The RSI indicator is below 46, which indicates that Ethereum is in control of the bears.
The price action is at the lower end of the Bollinger Bands, indicating a possible downside breakout in the near future.
When we compile our Ethereum price analysis for April 22, 2022, it is unclear how long the token will hold its value above the $3,000 level, although ETH bulls continue to struggle. ETH is getting a bearish note for today.