Ethereum (ETH) continues to attract the attention of investors and traders, as a relatively stable price movement is witnessing in light of the current market fluctuations, and it is noted that the currency is trading within a specific scope, indicating a state of anticipation among traders.
Current Ethereum price
Data shows that Ethereum is currently trading at $ 4,342.78, with a fluctuation between 4,267.43 and 4,410.43 dollars during today’s session.
This range indicates the currency attempt to maintain its stability amid market pressure, and the RSI index (RSI) at the level of 43, which reflects a state of balance between the forces of purchase and sale.
Technical analysis, support and resistance levels
Technical analyzes indicate that ethereum faces resistance at 4,577 dollars, while the level of 4,155 dollars is a major support, and in the event of a breaking level, we may witness a decline of about 3,967 dollars, and on the other hand if the ethereum is able to exceed the level of resistance, it may target higher levels of up to 4,774 dollars.
Institutional activity and its impact
The last days have witnessed remarkable activity by senior investors, known as whales, who bought large quantities of ethereum.
This activity reflects strong confidence by these investors in the ability of the currency to withstand the fluctuations of market, and provides important signals for traders on the basic support and resistance levels that may determine the movements of the upcoming prices.
The future outlook
Despite the current challenges, Ethereum remains one of the prominent digital currencies in the market, supported by continuous technical developments and increased institutional activity.
The currency is expected to continue testing support and resistance levels with the possibility of gaining gains if the main resistance levels exceeded.
