Ethereum (ETH) Price Analysis for April 11

Buyers have turned out to be more powerful than sellers, according to the CoinMarketCap ranking.

ETH/USD

Ethereum (ETH) is underperforming Bitcoin (BTC), rising by 2.87%.

On the hourly chart, the price is trading near the local support at $1,911. If the bears’ pressure continues, the breakout may lead to a sharp drop to the $1,900 zone. Such a scenario is relevant until the end of the day.

On the daily time frame, the price of Ethereum (ETH) has made a false breakout of the $1,920 mark. If the candle closure happens far from this mark, there is a chance of seeing a more profound decline to the support at $1,890.

The opposite situation is on the daily chart against Bitcoin (BTC). The rate has continued the decline after the failed attempt to fix above the 0.06672 mark.

In this regard, the more likely scenario is the ongoing decline to support at 0.06222.

Ethereum is trading at $1,917 at press time.

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