Although Ethereum price analysis continues to hold a critical region of $3,100, it faces the possibility of losing this area. We can also say that ETH has turned the $ 3,000 level into support. Besides, it is important to note that the token has shown a strong recovery from the $2,900 level in the past few days.
According to data from CoinMarketCap, Ethereum’s trading volume has increased by 21.51% in the last 24 hours, while the market cap of the token has dropped by 0.04%. Also, the Volume/Market Cap Ratio stands at 0.04441, while the token’s Market Dominance stands at 19.38%.
The daily candle for Ethereum opened at $3,082 and reached $3,157. Also, the token’s daily low is at $3,045. At the time of writing, ETH is trading at $3,116.
Ethereum Price Analysis on Daily Chart
The Ethereum price analysis for April 21 has been evaluated by considering the data from the 3 main indicators in the chart below.
The MACD indicator shows that the MACD line and the signal line are very close to each other, indicating that the uptrend is on the rise.
The RSI indicator is below 50, which indicates that the bears and bulls are equidistant from Ethereum, hence a stagnant price action.
Although price action is located at the lower end of the Bollinger Bands, a test of the middle zone is likely in the near future.
When we compile our Ethereum price analysis for April 21, 2022, ETH is taking a stagnant note as it tumbles around $3,100 for today.