0

Ethereum Price Analysis: ETH Takes Down $3,000

Daily Ethereum ETH Price Forecast

2 Min Read
Last Updated May 3rd 2021
  • Ethereum price has a robust support on the downside at $2,675.
  • The TD sequential detector is about to flash the sell signal.

Between March 30 and May 3, the Ethereum price has been riding along the 20-day SMA and jumped from $1,810 to $3,050, growing by almost $1,200. After bouncing up from the 20-day SMA, ETH charted seven straight bullish candlesticks before the bears eked out an advantage today. During this upward surge, ETH managed to cross over the 20-day and 50-day SMAs.

 

Ethereum Price Looks To Touch $2,800

Looking at the daily Ethereum price chart, we can see that the MACD shows increasing bullish market momentum. However, the TD sequential detector is also on the verge of flashing a sell sign in the form of a green-nine candlestick.

Image: ETH/USD daily

eth/usd daily chart 050321

On the downside, there is a robust support wall at the $2,675 wherein nearly 160,000 addresses had purchased a little less over 7.75 million ETH tokens.

Image: IntoTheBlocks

eth/usd volume chart 050321

Number Of Active Addresses On The Rise

eth/usd santiment chart 050321

Santiment shared the above image with this tweet:

"#Ethereum is edging closer to the much anticipated $3,000 price level for the first time in the #2 #crypto asset's six year history. Price growth often results from increased activity in a given network, and we continue seeing an impressive rise from $ETH."

 

Ethereum Discussion DOminance Hits 34-Month High

eth/usd santiment chart 050321

“#Ethereum has finally surpassed a long-awaited major milestone of $3,000 in market value. Looking at our social dominance comparison chart, today marks the highest percentage of discussion dedicated to $ETH vs. other assets since July, 2018.”

 

Ethereum Price Is Expected To Reach These Levels

Having broken past $3,000 psychological level and the Ethereum price will attempt to take down to $3,100.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.