Ethereum back above $3K as buying pressure jumps

Ethereum price analysis for April 26, 2022, comes on a bullish note for ETH as the token has seen a huge surge in prices in the last 24 hours. The token is now once again back above the $3,000 price level, and now, we can expect ETH to make a move towards $3.3K if the price region of $3.1K is turned into support. The ETH price analysis for April 25, 2022, noted that the world’s second-biggest cryptocurrency fell below the $2900 price level as investors eyed the $2500 price support. 

The data from CoinMarketCap shows that the trading volume of Ethereum surged 18.65% in the last 24 hours, and there was a nearly 4.88% increase in the market cap. Furthermore, the Market Dominance has jumped to 19.39%, as the Volume / Market Cap Ratio has a value of 0.05779.

The daily candle for Ethereum opened at a price of $3006 and reached a daily high of $3039. Moreover, the daily low for the token stands at a price of $2986. The current price of a single ETH token is $3007. 

Ethereum price analysis for April 26 on the daily chart

Ethereum price analysis for April 26, 2022, will take into consideration the data from the daily chart below, which has 3 of the major indicators integrated into it.

Source: TradingView

The RSI indicator reads a value below 47, which confirms that the bears are currently in control of the price action but are slowly losing their grip as the bulls take charge. 

The MACD indicator shows that the MACD line is moving closer to the signal line but remains below it. The MACD histogram is gradually losing its bearish intensity as well. 

The price action of Ethereum is situated in the lower end of the Bollinger Bands but is now retesting the middle zone of the Bollinger Bands. 

Conclusion

Ethereum price analysis for April 26, 2022, ends on a bearish note for the token as the chances of losing $3K are low but considerable.