VOT Research Desk

For the previous few days, ETH tickers down $1,268 have been bouncing towards the 20-day EMA ($1,255). This means that the bulls and bears are undecided.

The flattish moving averages and the relative strength index (RSI) near the midway do not give either the bulls or the bears a clear edge.

The ETH/USDT pair may continue to trade between $1,218 and $1,309 for some time. The first indication of strength will be a break and closure above the 50-day simple moving average ($1,326).

This could pave the way for a rally to the descending channel’s resistance line. Instead, if the price falls below $1,218, the pair could fall to $1,151 before retesting the critical support level of $1,073.

VOT Research Desk

The twelve-hour demand zone, which ranges from $1,675 to $1,750, will savagely reject the price of Ethereum.

In less than four days, ETH lost over 26% of its value and is now retesting the range high at $1,280.

A failure at this level will be fatal for the holders; the Bulls still have a chance to protect this territory. Depending on Bitcoin’s perspective, ETH may retest the $1,402 level if purchasing pressure picks up. Investors should only expect Ethereum price to reach the psychological $1,500 level in a very bullish scenario.

On the other side, if the price of Ethereum drops below $1,280, the bullish thesis will be disproved and a path to the range’s midpoint at $1,080 will become available.

Oct 26, 2022

VOT Research Desk

The cryptocurrency market performed well for itself for the first time in weeks, increasing the market value by more over $40 billion in only one day.

The surge was headed by the king of crypto currencies, Bitcoin, and the king of the alternative coins, Ethereum.

Although the two assets also took note of the optimistic reaction to intriguing news coupled with the good market movements. Although Ethereum’s classification may still be up for debate, its course appears to be becoming more obvious.

The price of ETH has increased by 14.62% during the past week, making it the crypto currency king at $1,489. This increase caused ETH to cross the month-long resistance level and close above it on the four-hour time frame.

The daily chart’s intra-day variations showed that ETH briefly hit $1,500. However, this increase has brought Ethereum closer to overbought territory.

As long as ETH avoids the zone above 70.0 on the Relative Strength Index (RSI), which is a trend reversal trigger zone, it can continue to grow.

Oct 19, 2022

VOT Research Desk

Due to the excitement around the Merge, Ethereum was predicted to be this year’s preferred crypto currency in every wallet.

But since the event fell short of expectations, ETH has come under fire, especially from institutional investors. This cohort appears to be avoiding ETH as much as they can.

According to Coin Shares’ most recent weekly report, this week was just as disappointing as the ones before it.

Institutional investors have been staying away from the market, bringing in only $12 million as of October 14.