Ethereum remains in a strong bearish position as the $160 price support continues being tested.

11 Apr, 2019 analyst100

Ethereum (ETH) Price Analysis – April 11


While ETHUSD follows a bullish scenario after last week surge, ETHBTC trend is yet to signal a reversal as the sentiment surrounding this market remains in a strong bearish condition.  However, Ethereum markets move in the opposite direction.

ETH-USD Market

Key Levels:

Resistance levels: $185, $200, $220
Support levels: $160, $150, $140

Since last week surge, Ethereum has been trending higher with a bullish wedge pattern. As soon as trading reaches a tight angle of the trend lines yesterday; the token saw a break-down and slowly move toward previous support at $160. At this support, a further drop could slip price to the last week break area at $150 and perhaps $140 support.

Before the surge, ETH had been trading side-way and below $150 for the past one month with a subdued market. The last 24-hours bearish surge has positioned the medium-term RSI below 50 level; revealing a significant break low on the indicator since March 27 break high.

However, a close target for the bulls lies at $185 resistance level. But as suggested on the RSI, a divergence move is in play for Ethereum market.

ETH-BTC Market

Looking at the 4-hours chart, ETHBTC followed a strong decline since February as the descending trend line (yellow) acts as a solid resistance level for the bears. An attempt from the bull sides is yet to surpass the level after been rejected four times. A sell-off is now nearing 0.032 BTC support. A possible bounce up is likely after testing the mentioned support.

Reaching the 70 line, the 4-hours RSI was rejected to a downward position near the 30 line. Breaking 0.032 BTC support may further drop to the extremely oversold zone.

In case, the bulls managed to successfully surpass 0.0345 BTC resistance level; Ethereum may set a new high above the yellow line. A quick resistance to watch out for is 0.036 BTC level and above.

Please note: is not a financial advisor and this article should not be treated as financial advice. However, you are welcome to apply this information on our simulated cryptocurrency exchange.

User Avatar


Azeez Mustapha is a technical analyst, has many years of trading experience in the stock, forex and the crypto markets.

Related articles

Bitcoin records 3x higher average trading volume in October than Apple, Amazon, Microsoft

After experiencing increased volatility in late September, Bitcoin (BTC) appears to be regaining its momentum towards another all-time high…

2mins 12 Oct, 2021 CryptoSlashy
Almost 5,000 new cryptocurrencies launched in the last 12 months

As the cryptocurrency industry continues to mature with mainstream adoption, investors are pumping more money into the sector contributing to the sector’s popularity.…

2mins 22 Sep, 2021 CryptoParrot
Ethereum adds over 38 million new addresses in 2021, 22% of all ever created

The Ethereum network plays a key role in the cryptocurrency circles, with the asset recording significant interest.…

2mins 14 Sep, 2021 CryptoParrot
Blockchain-related job postings surge 118%, software development sector leads at 30%

The focus on cryptocurrency and blockchain technology has been growing in recent years as organizations explore how to leverage the industry’s full potential.…

2mins 31 Aug, 2021 CryptoParrot
Start trading

Recommended crypto exchange

Buy & sell Crypto in minutes

Learn more


Login to comment