Ethereum Perpetual Future Price Analysis: April 9
- On April 9, the bullish ETH price analysis is at $3375.
- ETH’s bearish market price analysis for April 9, 2022, is $3140.
- Ethereum’s MA shows a downward trend.
In Ethereum Perpetual Future (ETH) price analysis on April 9, 2021, we use price patterns, and the Moving Average of ETH to analyze the future movement of the cryptocurrency.
Ethereum perpetual Contract or any futures or perpetual contract as such, derive its value from the underlying currency of the contract, in this case, Ethereum. The price of the contract is a direct consequence of the price shifts in ethereum.
There are two kinds of margins involved in Ether Perpetual Contracts, namely Initial Margin and Maintenance Margin. In a Perpetual Futures Contract, like a futures contract, a buyer holds the long position by committing to buy Ether at a particular price while a seller holds a short position by agreeing to sell Ether at a predetermined price in the future.
Ethereum (ETH)
Ethereum is a platform powered by blockchain technology that is best known for its native cryptocurrency, called ether, or ETH, or simply ethereum. The distributed nature of blockchain technology is what makes the Ethereum platform secure, and that security enables ETH to accrue value. Ethereum is transitioning to an operational protocol that offers incentives to process transactions to those who own the largest amounts of ETH.
Blockchain technology creates distributed consensus about the state of the Ethereum network. New blocks, added to the very long Ethereum blockchain to process Ethereum transactions and mint new ether coins or to execute smart contracts for Ethereum dApps.
Ethereum’s transition to the proof of stake protocol, which enables users to validate transactions and mint new ETH based on their ether holdings, is part of a major upgrade to the Ethereum platform known as Eth2. Moreover, Ethereum is not a centralized organization that makes money. Miners and validators who participate in operating the ethereum network, usually by mining, earn ETH rewards for their contributors.
Furthermore, the Ethereum platform can support many more applications than ETH and other cryptocurrencies. The network’s users can create, publish, monetize, and use a diverse range of applications on the Ethereum platform.
Ethereum (ETH) Price Analysis
ETH price analysis on April 9, 2022, is explained below with an hourly time frame.
The price action contained between two parallel upward-sloping lines is defined as an ascending channel. Higher highs and lower lows distinguish this price pattern. An ascending channel, formed by connecting the swing lows with a lower trend line and the swing highs with an upper channel line.
A breakout above an ascending channel may indicate that the upward trend will continue. Whereas a breakdown below an ascending channel may indicate that the trend will change.
When the price is around the bottom trendline, look for long opportunities, although aggressive traders could trade long and short at both trend lines looking for a bounce or pullback. The breakout above the upper trendline generates a strong buy signal, while a break down below the lower trendline generates a strong sell signal.
Currently, the price of ETH is $43,539. If the pattern continues, the price of ETH might reach the resistance level of $3375 and the buy level of ETH is $3310. If the trend reverses, then the price of ETH may fall to $3140.
Ethereum (ETH) Moving Average
The ETH’s Moving Average (MA) shown in the chart below.
Currently, BTC is in a bearish state. However, BTC’s price touches 50 MA (short-term), and it has a high chance of moving above the 50-MA level. Possibly, BTC can also move above 200 MA (long-term) soon. Once it moves above 50 MA and 200 MA levels, it completely goes to a bullish state. Moreover, there is a high possibility of a Trend reversal at any time.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/ethereum-perpetual-future-price-analysis-april-9/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
