Ethereum Technical Analysis: ETH Hangs Above $2K Range Amid 3% Drop


Ethereum's Market Position on Monday

Similar to bitcoin's price, the second leading digital currency in terms of market cap, ethereum, is down on Monday, losing 3% against the U.S. dollar. Oscillating within a 24-hour range of $2,017 to $2,088, ethereum maintains a market capitalization of $243 billion. Current technical indicators offer a nuanced perspective on ethereum's market position on Monday.

Ethereum's Price and Technical Indicators

Ethereum's price, recorded at $2,019, indicates a downward phase amidst the volatile crypto market. Despite this, oscillators present a predominantly neutral stance. The relative strength index (RSI) stands at 55.8, while the Stochastic and commodity channel index (CCI) are at 66.5 and 23.8, respectively. These figures suggest a balanced market condition, with some slight bearish signals.


Moving Averages and their Impact on Ethereum

The story takes a nuanced turn when analyzing ethereum's moving averages. The exponential moving average (EMA) and simple moving average (SMA) at the 10-day mark indicate negative action at $2,037 and $2,031, respectively. However, longer-term EMAs and SMAs, particularly from the 20-day mark onwards, signal positive sentiment, illustrating a potential ether rise in the long run.

Short-term Downtrend and Entry Points

In the 1-hour chart analysis, ethereum exhibits a short-term downtrend, as indicated by consecutive red candles. Noteworthy spikes in selling volume are observed, yet buyer participation appears tepid. The chart lacks clear reversal patterns, making it difficult to pinpoint high-confidence entry points. Traders are advised to consider short positions with caution, given the oversold conditions in the short term.

Reversal in the 4-hour Chart and Caution for Long-term Positions

The 4-hour chart tells a different story, marking a reversal from a previous uptrend to a sustained downward momentum. Increased volume on downward candles points to significant selling pressure. Ethereum found previous support near the $1,907 range and faced resistance at the peak around $2,136. The absence of definitive continuation or reversal patterns suggests a cautious approach for traders looking for long-term positions.

Bullish and Bearish Outlook

Bull Verdict: Ethereum's technical indicators, while presenting a mixed view, lean towards a bullish future. The longer-term moving averages, especially beyond the 20-day mark, signal strong buy actions, suggesting an underlying confidence in ethereum's value growth.

Bear Verdict: Despite occasional bullish signals, ethereum's technical analysis predominantly suggests a bearish outlook. The short-term moving averages and the recent downtrend in the 1-hour chart underscore a pressing sell sentiment.

What do you think about ether's market action on Monday morning? Share your thoughts and opinions about this subject in the comments section below.

Frequently Asked Questions

Can I store my Gold IRA at Home?

An online brokerage account is the best option to protect your investment funds. You'll have access to all the same investment options as if you were working with a traditional broker, but you don't need special licenses or qualifications. You don't have to pay any fees for investing.

Many online brokers also offer tools that can help you manage your portfolio. Many online brokers allow you to download charts that will show how your investments are performing.

Is it possible to make money with a gold IRA.

To make money from an investment you must first understand how it works and secondly what products are available.

Trading is not a good idea if you don’t know what you need.

It is important to find a broker who provides the best services for your account type.

You can choose from a variety of accounts, including Roth IRAs or standard IRAs.

A rollover is also an option for those who already own stocks and bonds.

What is the difference between a gold and silver IRA?

An IRA that is gold or silver allows you the opportunity to invest in precious metals without paying tax on any gains. They are a good investment option for those who wish to diversify their portfolios.

If you are over 59 1/2, income tax is not due on the interest earned from these accounts. You also do not have to pay capital gains tax on any appreciation in the account's value. This account has a limit on how much you can put in. The minimum amount that you can invest is $10,000. Under 59 1/2 years old, you can't make any investments. The maximum annual contribution is $5,500.

Your beneficiaries might not receive the full amount of your account if your death occurs before you retire. After you have paid all your expenses, your estate should include sufficient assets to cover the balance of your account.

Some banks offer a silver and gold IRA option. Others require you open a regular broker account, through which shares or certificates can be purchased.

What are the fees for an IRA that holds gold?

An average annual fee for an individual retirement plan (IRA) is $1,000. There are many types available: SIMPLE IRAs (SEP-IRAs), Roth IRAs, Traditional IRAs and Roth IRAs. Each type has its own set requirements and rules. For example, you may have to pay taxes on any earnings from your investments if they're not tax-deferred. The amount of time you intend to keep the money must be considered. If you are planning to hold onto your money for a longer time, you will likely save more money opening a Traditional IRA than a Roth IRA.

Traditional IRAs allow you to contribute up $5,500 annually ($6,500 if 50+). A Roth IRA lets you contribute unlimited amounts each year. The difference between them? With a traditional IRA, the money can be withdrawn at your retirement without tax. However, Roth IRA withdrawals are subject to tax.

What precious metals are permitted in an IRA

The most commonly used precious metal in IRA accounts is, of course, gold. You can also invest in gold bullion bars and coins.

Precious Metals are safe investments since they don’t lose value over the long-term. They are also a great way of diversifying your investment portfolio.


Precious metals include silver, platinum, and palladium. These metals share similar properties. Each metal has its own use.

For example, platinum is used in making jewelry. Palladium is used to create catalysts. It is used for producing coins.

Think about how much you can afford to purchase your gold, before you make a decision on the precious metal. You may be better buying gold that is less expensive per ounce.

You need to decide if you want your investment to remain private. Palladium is the best option if you want to keep your investment private.

Palladium is more valuable than gold. But it's also rarer. This means you might have to spend more.

When choosing between gold or silver, another important aspect is the storage fees. Gold is measured by weight. The price for larger amounts will go up.

Silver is stored according to its volume. So you'll pay less for storing smaller amounts of silver.

If you decide to store your precious metals in an IRA, follow all IRS rules regarding gold and silver. This includes keeping track of transactions and reporting them to the IRS.

What are the 3 types of IRA?

There are three main types of IRAs. Each type has its benefits and drawbacks. Each of these types will be described below.

Traditional Individual Retirement Account (IRA).

A traditional IRA allows you to contribute pre-tax money to an account where you can defer taxes on contributions made now while earning interest. Withdrawals from this account are exempted from tax once you have retired.

Roth IRA

Roth IRAs allow you after-tax dollars to be deposited into an account. Any earnings will grow tax-free. The account allows you to withdraw funds for retirement.


This is similar in structure to a Roth IRA. However, employees will need to make additional contributions. These extra contributions are subject to income tax but any earnings will grow tax-deferred again. The entire amount can be converted to a Roth IRA if you are leaving the company.


  • You can only purchase gold bars of at least 99.5% purity. (
  • Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (
  • Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (
  • SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (

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How To

How to make your IRA a gold IRA

Are you interested in moving your retirement savings to a more gold-colored IRA instead of a traditional IRA? This article will assist you in that endeavor. Here's how you can do it.

“Rolling over” is the act of transferring money from one type (traditional) to another type (gold). Rolling over an account offers tax advantages. Others prefer to invest in tangible assets, such as precious metals.

There are two types IRAs – Traditional IRAs and Roth IRAs. The difference between the two types is that Traditional IRAs let investors deduct taxes from earnings. Roth IRAs don’t allow this. If you invest $5,000 in a Traditional IRA now, then you'll be able only to withdraw $4,000. The Roth IRA would allow you to keep every cent if you invested the same amount.

These are the things you need to know if your goal is to convert from a traditional IRA or a gold IRA.

First, decide whether to transfer funds from an old account to your new account or to rollover your current balance. Any earnings over $10,000 will be subject to income tax at the regular rate. You can rollover your IRA to avoid paying income tax until you are 59 1/2.

Once you have decided to open a new bank account, It is likely that you will be asked to prove your identity by providing proof such as a Social Security card or passport. Once you are done, you will fill out paperwork proving ownership of your IRA. Once you have filled out the forms, your bank will receive them. You'll be verified and given instructions on where you can send your wire transfers and checks.

Now comes the fun part. The fun part is when you deposit cash into the account, and then wait for the IRS approval. After approval, you'll receive a letter stating that funds can be withdrawn.

That's it! Now all you have to do is sit back and watch the money grow. If you decide to convert your IRA you can close it and transfer the remaining balance into a different IRA.


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