More than a month after the consolidation range, Ethereum (ETH) price remains stable in a hard-fought range.
currently trading at $1,858 (24-hour change of -0.79%), Ether appears to have been rejected once again by a hard range of resistance at $1,925.
Markets are on edge as ETH heads for a retest of support on the difficult MA20, now in a modest -3.60% retracement move.
Ethereum (ETH) Technical Analysis: Consolidation Continues…
In fact, the MA20 has formed an important moving average since April – suppressing the uptrend in price for more than 35 days.
A breakout moment last week could be the last chance for ether to return to a technical rally structure on the lower time frame (STF), and a strong bounce from support here could supercharge price action.
But despite the continuation of the mid-range pattern, Ethereum’s oscillators cloud judgement.
With the RSI sitting at 51, showing a slight bearish divergence, many are wondering whether the current price level is sustainable.
In fact, the recent retracement move failed to turn into an oversold signal on the RSI, and this could send further demand for ETH price lower.
Conversely, the MACD offers a lot of hope with an incredibly bullish 8.78 indicating new support above the MA20.
Ethereum On-Chain Analysis: Will The Accumulation Window Affect ETH Price?
Turning to Ethereum on-chain, there has been a seismic reversal of market behavior that is worth noting.
look at Net transfer volume to/from exchangesThere has been a marked change in sentiment towards accumulation behavior From 23 May.
Now in 9th day of net outflow (shown as Ether being moved from exchange accounts to cold storage wallets or staking), over 600,000 ETH have been moved off exchanges in recent days (with a value of $1.125bn).
This accumulation is characterized by a massive outflow on 26 May, which saw a massive withdrawal of 451,806 ETH ($825m worth) in just one day.
Overall, this suggests that the price of ETH is likely to move higher as accumulation pressures supply dynamics.
Ethereum (ETH) Price Prediction: Rain or Shine?
Technical structure fighting to resume, and on-chain signaling suggesting Shift in market price from distribution to accumulationIt looks like Ethereum’s apparent downside move may not be all it’s cracked up to be.
If Ethereum bulls can successfully defend the MA20 mark – forming a new support level – then ETH price is likely to rise to $2,000 (+7.4%).
however, downside risk Not insignificant, if the MA20 turns bearish – ETH price could slide back to the local support at $1,785 (-4.15%).
This leaves Ethereum with a Risk:Reward Ratio 1.78K – A fair entry.
But despite the attractive risk:reward ratio, returns here are limited by the price structure – if an investor commits $1,000 ethereum long positionThey can expect to make only $74 a pox in the best case.
Nothing to laugh about though, these attractive returns are not what attracted people to cryptocurrencies, and in fact many retail traders are looking for more aggressive risk profiles to boost seismic profits.
One such opportunity, with the great promise of using blockchain to unlock the climate change puzzle, is leading the pack. ecoterra,
Ecoterra: Best alternative to falling ETH price?
Ethereum Market Facing Turmoil But An Exciting Newcomer, Ecoterra ($ ECOTERRA), The game is changing.
Offering investors the opportunity to bank on an eco-friendly blockchain platform, this green crypto coin has already raised a staggering $4.5 million.
Ecoterra has cleverly combined the transformative power of blockchain technology with the all-out war on climate change and wasteful resource practices.
Ecoterra innovates with Recycle2Earn technology that is changing the world
It is currently in its pre-sale phase 7, Ecoterra has already raised $4.5 millionbringing it surprisingly close to its $4.775 million goal.
Ecoterra’s unique appeal lies in its innovative Recycle-to-Earn (R2E) system, which promises to redefine sustainable recycling.
By leveraging the decentralized nature of blockchain, Ecoterra rewards users for responsible recycling practices, attracting global brands such as Coca-Cola, Carlsberg and Evian.
But why should you care about Ecoterra?
Here are three compelling reasons:
1. Ecotera Presale: A unique opportunity to invest and make a difference
Following a recent award at the Blockchain Economy Summit in Istanbul, the Ecoterra presale presents a golden opportunity to buy into a project that is making waves in the crypto world.
With native $ECOTERRA tokens available at $0.0085 before reaching a pre-sale target of $0.00925, this is seen as a prime opportunity for investors to back a sustainable future while enjoying considerable returns.
As the token price rises, early pre-sale investors stand to benefit from significant ROI as well as future staking protocols for passive income generation.
2. Advancing the Green Revolution with Blockchain Technology
Ecoterra stands out with its unique blend of environmental protection and blockchain.
By creating a transparent record of each user’s environmental impact and encouraging eco-conscious practices with their cryptocurrency, Ecoterra offers an impressive package of environmental responsibility and economic growth.
3. Be a part of Ecoterra’s eco-friendly revolution
There has never been a better time than now to be part of the green revolution in crypto, and Ecoterra offers an exclusive opportunity to get on board, and take back the fight against climate change using the latest and greatest in blockchain technology.
Don’t miss the last minute Ecoterra presale
With an upcoming increase in token value and a limited supply of two billion (half of which are available for pre-sale), now is the time to act.
ecoterra Not only an attractive investment opportunity, but a step towards a sustainable future.
With a clear path to success and long-term commitments, Ecoterra stands as a testament to the powerful combination of blockchain and environmental initiatives.
This is recently shown in an EchoCrypto ranking by top analyst Jacob Barifurther strengthening its reputation.
So, will you grab the opportunity and be a part of Ecoterra’s eco-friendly revolution?
As the clock ticks down on the pre-sale, now is the time to act. Show your support for global climate change efforts and join Ecoterra – a project that really makes a difference.
Disclaimer: The cryptocurrency projects supported in this article are not financial advice from the publication author or publication – cryptocurrencies are highly volatile investments with high risk, always do your own research.