- Ethereum price tried to break below the $2,060 line this Wednesday.
- The MACD shows sustained bullish market momentum.
Between March 25 and April 2, the Ethereum price jumped from $1,585 to 2 $2,125. Following that, ETH has been pretty much hovering around the $.2060 line. Let’s take a closer look with technical analysis.
Ethereum Price Faces A Weak Resistance At $2,060
When we look at the Ethereum price daily chart, we can see that he has flashed two buy signals – the MACD shows sustained bullish market momentum and the parabolic SAR has flipped from bearish to bullish.
Image: ETH/USD daily
Looking at the IOMAP, we can see that there is a moderate resistance level at $2,060, wherein 140,000 addresses had purchased 871,000 ETH tokens.
CEX vs DEX: A Story Told Through Ethereum Fees
In the chart above, Ethereum's on-chain fees tell a story of evolution, as DEXs overtake CEXs.
- Phase 1: CEX trading alongside ICO mania dominate gas fees.
- Phase 2: Trading activity slows in the bear.
- Phase 3: DeFi + DEXs + mass CEX withdrawals dominate gas fees.
Ethereum Price Is Expected To Reach These Levels
The Ethereum price will likely take over the $2,060 resistance barrier again and aim for the all-time high level again.