Home Coins Ethereum Technical Evaluation Report | Twenty fifth-October-2022

Ethereum Technical Evaluation Report | Twenty fifth-October-2022

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Ether(ETH), the token tied to the Ethereum blockchain and the second-largest crypto, was down more than 1% to $1,339. Investors are nervous as inflation and macroeconomic uncertainty threaten to plunge the global economy into a deep recession. ETH investment products saw outflows totalling $2.5 million for the third consecutive week, bringing total flows post-merger to […]
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Ether(ETH), the token tied to the Ethereum blockchain and the second-largest crypto, was down more than 1% to $1,339. Investors are nervous as inflation and macroeconomic uncertainty threaten to plunge the global economy into a deep recession. ETH investment products saw outflows totalling $2.5 million for the third consecutive week, bringing total flows post-merger to $11.5 million, which is only 0.2% of assets under management. The global asset volume is up by more than 15% over the day. 

At the time of writing, ETH was trading at $1,349.

ETH has been consolidating and trading below its 50-day moving average from $1,200 to $1,400 over the past few weeks with declining volumes indicating no trend. Breakouts on either side of the range with good volumes will further decide the trend for the asset.  Technically, on a daily time frame, ETH has made a ‘Hammer’ candle (Bullish Candle). If the prices break and close above $1,450 then we can expect it to further rally up to $1,750 and $2,000 levels whereas a close below $1,200 will lead to further downfall. Flat Moving Averages and an RSI around 50 indicate a neutral stance for the asset.

  Support 2 Support 1 Asset Resistance 1 Resistance 2
$1,000 $1,200 ETH $1,750 $2,000

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in crypto assets viz. Bitcoin, Bitcoin Cash, Ethereum etc. are very speculative and are subject to market risks. The analysis by the Author is for informational purposes only and should not be treated as investment advice.

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