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ETH Price Faces Critical Support, With Bigger Moves Developing

The ETH price faces critical support with some bigger moves developing and the coin has been successful in keeping the price above $4000 but the upwards momentum is quite a week. In today’s Ethereum price news, we are reading more about it.

The ETH price faces critical support near $4000 with little volume or volatility and this is normal considering the weekend in the year’s holidays. The resistance is a distance away at $4435 as it now seems but it will not be tested any time soon. The momentum could return in the coming week before the new year’s evening, right before 2022 starts. The volume is still very low and therefore the most likely scenario for ETH is to go sideways. The daily RSI is moving down due to a lack of momentum and the coming weekdays will bring more decisiveness in choosing the right direction.

tradignview
Chart by TradingView

The daily MACD remains bullish but the histogram made a lower high at the time of this writing so if the bullish momentum doesn’t return, it could be a clear warning sign that the bears could take over the price action. The bias for ETH is neutral despite the price being set at $4000 and the momentum not being there to push eTH in any direction. As long as ETH is trading above $4000 is great news and this key level has to be backed up by the volume and momentum but they are both missing. This makes the current price action quite fragile and for this reason, as soon as the volume and volatility return there’s no guarantee the bulls will win this fight so it is best to be cautious.

tradingview
Chart by TradingView

As recently reported, Opera is a web browser that supports web 3.0 and it recently announced a browser integration with Polygon. It will offer Opera users in-browser access to another 3000 Dapps on the network. Opera revealed its most recent partnership and the browser that features a built-in crypto wallet and uses Ethereum’s web 3.0 API, allowing its users to transact into Polygon’s MATIC native token by also eliminating passwords, helping to remove barriers for entry for all newcomers. Opera users will be able to access Dapps like Curve, Aave, balancer, SushiSwap, and Kyber alongside the NFT platforms like OpenSea, Sandbox, Somnium Space, Decentraland, and more. Polygon will start by integrating into the Opera Android browser and will rely on the Android’s system lock to sign transactions.

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Source: https://www.dcforecasts.com/ethereum-news/eth-price-faces-critical-support-with-bigger-moves-developing/

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