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Ethereum (ETH) Price Analysis for April 11

Tue, 04/11/2023 - 18:49
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Denys Serhiichuk
Can Ethereum (ETH) start outperforming Bitcoin (BTC)?
Ethereum (ETH) Price Analysis for April 11
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Buyers have turned out to be more powerful than sellers, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap


Ethereum (ETH) is underperforming Bitcoin (BTC), rising by 2.87%.

BTC/USD chart by TradingView

On the hourly chart, the price is trading near the local support at $1,911. If the bears' pressure continues, the breakout may lead to a sharp drop to the $1,900 zone. Such a scenario is relevant until the end of the day.

ETH/USD chart by TradingView

On the daily time frame, the price of Ethereum (ETH) has made a false breakout of the $1,920 mark. If the candle closure happens far from this mark, there is a chance of seeing a more profound decline to the support at $1,890.

ETH/BTC chart by TradingView

The opposite situation is on the daily chart against Bitcoin (BTC). The rate has continued the decline after the failed attempt to fix above the 0.06672 mark.

BTC, ETH and XRP Price Analysis for April 10

In this regard, the more likely scenario is the ongoing decline to support at 0.06222.

Ethereum is trading at $1,917 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at