Ethereum drops 4% as buying volume plunges

Ethereum price analysis for April 30, 2022, comes on a bearish note for ETH as chances of higher highs seem quite low for the token. On the other hand, in the last 24 hours, the price of ETH has dropped by around 4% as investors seem to have lost interest in the crypto market. The ETH price analysis for April 29, 2022, showed us that the Ether token was unable to push above the $3000 price region as conditions remain uncertain for the crypto market. At the time of writing, the price of 1 ETH at the time of writing is 42.30% low than its all-time high noted on Nov 16, 2021.

The data from CoinMarketCap shows that the trading volume of Ethereum dropped 3.05% in the last 24 hours, and there was a nearly 3.46% drop in the market cap. Furthermore, the Market Dominance has dropped to 19.34%, as the Volume / Market Cap Ratio has a value of 0.05374.

The daily candle for Ethereum opened at a price of $2817 and reached a daily high of $2837. Moreover, the daily low for the token stands at a price of $2809. The current price of a single ETH token is $2823. 

Ethereum price analysis for April 30 on the daily chart

Ethereum price analysis for April 30, 2022, will take into account the data from the daily chart below.

Source: TradingView

The RSI indicator reads a value below 41 which means that the bears are in control and the gradient of the line suggests that lower prices might follow.

The MACD indicator shows that the MACD line and the signal line are very close to each other as the MACD histogram also remains bearish.

The price action of Ethereum is situated in the lower end of the Bollinger Bands as bears aim to push the prices out of the bearish end of the Bands.

Conclusion

Ethereum price analysis for April 30, 2022, ends on a bearish note for the token with increased chances of losing $2800.