The ETH coin price finally manages to rise against the increasing selling pressure with the demand near $3000 and aims to reach $3500.

Ethereum is an open-source, decentralized Blockchain system that has the cryptocurrency it owns, Ether. ETH serves as a platform to support a variety of other cryptos in addition to being used to execute the decentralization of smart contracts.

Ethereum was first introduced in a whitepaper from 2013 written by Vitalik Buterin. Buterin, together with co-founders of the Ethereum project, obtained funding for the project through an online crowd-funding sale during the summer of 2014.

Let us move ahead to read about ETH technical analysis.
<h2>Past Performance of ETH</h2>
ETH coin price faces a downfall of more than 20% due to the supply dump near $3850. The downfall finds support near $3000 and shows lower price rejection during the bullish reversal. The reversal shows growth of almost 10% in the past 48 hours.  

<img src="https://s3.tradingview.com/snapshots/f/F72cV38y.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/F72cV38y/">TradingView</a>
<h2>ETH Technical Analysis</h2>
The <a href="https://www.cryptoknowmics.com/news/unstoppable-domains-launches-single-sign-on-service-for-ethereum-and-polygon/">ETH</a> coin price shows lower price rejection after the rise from the support zone at $3000. Moreover, the bullish engulfing candle breaks above $3200 and starts a bullish journey that can shortly reach above $3500.

The crucial EMAs (50, 100, and 200) show a bearish alignment as the ETH prices fall below all the daily EMAs. Moreover, the bearish crossover of 50 and 100-days EMA increases the possibility of a death cross. 

The RSI indicator at 35% overlaps with the 14-day SMA as it rises higher after the oversold boundary pushes the slope higher. Therefore, a bullish crossover can shortly reflect a revolt from the underlying bullishness.

The MACD indicator shows a gradual reversal in the MACD line as the MACD and signal lines trend deeper below the zero line. Moreover, the weakening intensity of bearish histograms increases the chances of a bullish crossover of fast and slow lines.
<h2>Upcoming Trend</h2>
The reversal from $3000 shows a rise in ETH coin prices and weakens the selling pressure. Moreover, the breakout of $3200 increases the possibility of a price jump to the 200-day EMA at $3500. 

The ETH technical analysis indicates resistance levels at $3300 and $3600 with a psychological mark at $3500. The support levels are at $3000 and $2750 which can halt the downfall.

The increasing coin prices lack bullish commitment evident by the 25% fall in the intraday trading volume. Therefore, traders need to keep an eye near the resistance level at $3300.

ETH Technical Analysis: Psychological Barrier Reflects Bearish Intentions

The ETH Technical Analysis shows the coin price managing to rise against the increasing selling pressure with the demand near $3000, aiming to reach $3500.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ETH Technical Analysis: Psychological Barrier Reflects Bearish Intentions

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