Ethereum loses $3K as investors need to keep an eye at $2.8K

Ethereum price analysis for April 18, 2022, comes on a bearish note for the world’s 2nd biggest cryptocurrency which has seen a 1.06% price drop in the last 24 hours. Furthermore, the token has also seen a drop below $3K which might convince the day traders to wait for lower prices in the near future. On the other hand, the Ether token rebounded from $2.9K which has held as support, as per our ETH price analysis for April 15, 2022.

The data from CoinMarketCap shows that the trading volume of Ethereum surged 28.02% in the last 24 hours, and there was a nearly 1.18% decrease in the market cap. Furthermore, the Market Dominance retains a value of 19.49%, as the Volume / Market Cap Ratio has a value of 0.03096.

The daily candle for Ethereum opened at a price of $2988 and reached a daily high of $3002. Moreover, the daily low for the token stands at a price of $2977. The current price of a single ETH token is $2997. 

Ethereum price analysis for April 18 on the daily chart

Ethereum price analysis for April 18 will consider the data from the daily chart below which includes a few of the most important indicators in the crypto space.

Source: TradingView

The RSI indicator shows a value below 50 which means that the bears are currently in control of the price action hinting that lower prices might follow in the near future. 

The MACD indicator shows that the MACD line is below the signal line and the MACD histogram is also bearish with red bars. 

The price action for Ethereum is currently situated in the lower end of the Bollinger Bands and a bearish breakout would hint at lower prices for Ethereum in the near future. 

Conclusion

Ethereum price analysis for April 18, 2022, ends on a bearish note for the token as chances of losing $2.9K as support seem quite high.