Ethereum price analysis for 15 September 2022

Ethereum price analysis for 15 September 2022, Ethereum, the second largest cryptocurrency based on market cap, is in a downtrend since November 2021. On the fourth day of this week, Ethereum is dominated by buyers based on the weekly Doji Heikin Ashi Candlestick. The weekly MACD is still negative but forms a positive histogram. The weekly RSI fluctuates below 50, and the price is still under the 50 SMMA line.

Ethereum price analysis on the Daily Chart for 15 September 2022

By diving into the daily timeframe, we identify that the sellers push the price below the 50 SMMA line ($1693.13). Today at 9:40 AM GMT+3 The Merge will be live. The market is not reacting in any direction at the moment.

The TFLOW Beta Algo has already generated a Short signal and a TP signal, as buyers pushed the price higher.

The Daily MACD indicator is still positive.

The Daily RSI fluctuates under 50 which confirms a bearish momentum.

In the 4-hour chart, Ethereum forms an uptrend and fluctuates below the 50 SMMA ($1645.72). The Volume Profile indicator determines $1590.67 as a strong trading area. The price has already retested the 50 SMMA.

The 4-hour MACD turns negative and the 4-hour RSI fluctuates under 50.

Conclusion

The price of Ethereum tries to reverse the bearish dominance in a medium-term scale with the daily timeframe being the most crucial, but sellers push the price lower once again. In a short-term scale, sellers seem that still control the price as the indicators turn negative. Be aware of today’s technological event as it can bring volatility in the market

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