{"id":12141,"date":"2025-02-09T14:17:03","date_gmt":"2025-02-09T14:17:03","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12141"},"modified":"2025-02-09T14:17:03","modified_gmt":"2025-02-09T14:17:03","slug":"ethereum-price-analysis-is-there-more-trouble-ahead-for-eth-after-14-weekly-drop","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12141","title":{"rendered":"Ethereum Price Analysis: Is There More Trouble Ahead for ETH After 14% Weekly Drop?"},"content":{"rendered":"
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Ethereum\u2019s price has been dropping consistently over the past couple of weeks and is yet to show any sign of recovery.<\/p>\n

As things stand, a deeper decline could be expected in the coming weeks.<\/p>\n

Technical Analysis<\/h2>\n

By Edris Derakhshi (TradingRage)<\/a><\/p>\n

The Daily Chart<\/b><\/h3>\n

On the daily chart, the asset has gradually decreased after breaking the 200-day moving average, located around the $3,000 mark, to the downside.<\/p>\n

The $2,700 level has also been lost, and the market could now target the $2,350 support zone. Yet, with the RSI entering the oversold region, a bullish pullback might occur soon, which could even put an end to the downtrend if the market can recover above the 200-day moving average.\"\"<\/a><\/p>\n

The 4-Hour Chart<\/h3>\n

Looking at the 4-hour timeframe, it is evident that the price has been consolidating inside a tight descending channel around the $2,700 level. Currently, the market is testing this level from below, and if it gets rejected, a breakdown of the channel and a drop toward the $2,350 level would be imminent.<\/p>\n

However, if the opposite scenario occurs and the $2,700 level is reclaimed, a rally toward the key $3,000 area would be likely.\"\"<\/a><\/p>\n

On-Chain Analysis<\/h2>\n

By Edris Derakhshi (TradingRage)<\/a><\/p>\n

Exchange Reserve<\/h3>\n

While Ethereum\u2019s price has been experiencing an aggressive downtrend, things might be looking attractive for long-term investors who like to buy the dip. This is somehow evident when looking at the Ethereum exchange reserve.<\/p>\n

The metric measures the total amount of ETH that is held in exchange wallets. It is considered a proxy for supply, as these coins can be quickly sold and add to the overall selling pressure.<\/p>\n

As the chart suggests, however, the exchange reserve has recently taken a nose dive following the recent market crash. This indicates that some investors are aggressively accumulating during this correction, and the subsequent supply shrink could lead to a recovery.\"\"<\/a><\/p>\n

The post Ethereum Price Analysis: Is There More Trouble Ahead for ETH After 14% Weekly Drop?<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum\u2019s price has been dropping consistently over the past couple of weeks and is yet to show any sign of recovery. As things stand, a deeper decline could be expected in the coming weeks. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the asset has gradually decreased after breaking the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12141","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12141"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12141\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}