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Ethereum (ETH) Price Analysis for April 21

Fri, 04/21/2023 - 16:00
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Denys Serhiichuk
Can rate of Ethereum (ETH) withstand sellers' pressure on Bitcoin (BTC)?
Ethereum (ETH) Price Analysis for April 21
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The market has almost entirely come back to the red zone, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap


Ethereum (ETH) has lost more than Bitcoin (BTC), going down by 2.74%.

ETH/USD chart by TradingView

Despite the fall, the price of Ethereum (ETH) has made a false breakout of the local support level at $1,896. If the daily closure happens far from the $1,900 mark, a bounce back may continue to the $1,920-$1,930 zone tomorrow.

ETH/USD chart by TradingView

On the bigger time frame, the situation remains bearish as the bar is about to close below yesterday's low at $1,913.60. In this case, there is a high possibility of seeing a further decline to the next important support level at $1,846. Such a scenario is relevant until the end of the week.

ETH/USD chart by TradingView

From the midterm point of view, the rate of Ethereum (ETH) has returned to the middle of a wide channel. The price is located below the crucial $2,000 mark, which means that sellers have seized the initiative.

Cardano (ADA) Price Analysis for April 20

However, the leading altcoin is still far from the support at $1,715. All in all, sideways trading in the range of $1,850-$1,950 is the more likely scenario until the end of the month.

Ethereum is trading at $1,909 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