Ethereum is headed towards an important level

What's in this article

After falling below the $4000-mark Ethereum is headed towards an important level. There are some green candles on the 4-hour chart but will these last or turn red in the coming hours, that is the question.

The Ethereum price today is $4,347.77 USD with a 24-hour trading volume of $25,540,207,525 USD. Ethereum is up 7.08% in the last 24 hours,  with market cap of $515,824,915,437 USD. It has a circulating supply of 118,641,382 ETH coins.

Source: Tradingview

Ethereum: Analysis

After making a high of $4800 on December 1, 2021, Ethereum started to slump slowly making lower lows. This trend continues and Ethereum today is testing this important price level. If it breaks above this trend successfully, we can expect the target of $4800 again. There is support at the lower trend line which might support the price drop otherwise.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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