Latest Ethereum price and analysis (ETH to USD)

Ethereum is currently trading back around the $1,100 level following Monday’s 20% correction to beneath $910.

The world’s second largest cryptocurrency remains bullish on all higher time frames with it having risen by 236% since September.

If Ethereum can close this evening’s three day candle above the $1,110 level of resistance, it would indicate a period of bullish continuation over the coming weeks.

ETHUSD chart by TradingView

However, a rejection from this level would be a concerning sign as it would indicate a lack of bullish momentum.

If that is the case, downside targets would begin to emerge at both $1,000 and $910, although a deeper correction could re-test the previous breakout level at $750.

It’s worth noting that leading up to Ethereum’s correction on Monday it was displaying clear signs of bearish divergence, with the RSI printing lower highs while price action swept to a higher high.

It now needs to avoid printing a lower high in terms of price action by beginning to close daily candles back above the $1,125 mark.

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About Ethereum

Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum.

Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal.

More Ethereum news and information

If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Please check the below article:

https://coinrivet.com/ethereum-adopts-erc-1155-as-an-official-standard/

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.

Disclaimer: This is not financial advice.

Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.