Ethereum, Synthetix, VeChain Price Movement Analysis for 11th April, 2021

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Ethereum saw a bearish divergence and fell below $2100, but it was met with strong demand. Synthetix hit $20 as resistance and was heading towards $17.95, while VeChain can begin to rise after a pullback to $0.121-$0.13.

Ethereum [ETH]

Ethereum, VeChain, Synthetix Price Analysis: 11 April

Source: ETH/USD on TradingView

ETH was trading above the demand area of $2040 and was facing opposition at the $2150 level. It demonstrated a bearish difference between price and momentum as ETH soared to $2150 before being pushed to fall to $2120.

In recent hours, a candle with a long lower wick was spotted, indicating that there are a fair number of buyers below the $2100 mark.

The RSI was at 60, indicating a solid bullish trend. It has risen back above the neutral 50 level in recent days, and an uptrend will be formed if $2150 is flipped to help.

Synthetix [SNX]

Ethereum, VeChain, Synthetix Price Analysis: 11 April

Source: SNX/USDT on TradingView

Trading operation from the past was used to highlight regions of major support and opposition using the Volume Profile Visible Range. The VPVR displayed the Point of Control (red) at $17.14 and illuminated some significant resistance at $20.

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There is still a degree of funding at $17.95, which investors are likely to join. The Awesome Oscillator was going below the zero line and posting red bars after the resistance rejection, indicating bearish strain.

SNX has been unable to rise above $21 for the past month, and a rejection at $20 would almost certainly result in a decline to $17.1-$17.95.

VeChain [VET]

Ethereum, VeChain, Synthetix Price Analysis: 11 April

Source: VET/USDT on TradingView

VeChain was facing opposition at the 38.2 percent extension mark of $0.144 and was on the verge of a pullback. This could fall as low as $0.13 or $0.124 before resuming its upward trend. The A/D line was in a steady uptrend, indicating that buyer demand outweighed seller demand, and the MACD also showed good bullish traction.

Trading turnover has also been notable during the recent rally, reflecting investor conviction following the break over $0.095.

 

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