- Ethereum price is expected to complete a sideways move towards $2300.
- The next support level is at $2,200.
- ETH is facing resistance at $2400.
After finally breaking through the $2500 mark, the price of Ethereum failed to continue its upward trend and fell just below $2300. Although the price remains just below $2300 at press time, the upward pressure was strong in the last few hours and the price could rise slightly in the near future if buying continues.
The broader crypto-currency market has been bullish over the past 24 hours, with most major crypto-currencies posting gains over time. The top performers were Ripple XRP and BNB, which posted gains of 18.12% and 9.49%, respectively. Meanwhile, Bitcoin and Ethereum posted gains of 0.36% and 7.51%, respectively.
Technical indicators for ETH/USDT
Technical indicators for ETH/USDT from Tradingview
According to the technical indicators, the MACD showed a bullish reversal yesterday and has remained bullish since. As prices rose, the MACD also remained high, indicating strong bullish momentum in the markets. Currently, both EMAs are moving higher, with the 12 EMA separating from the 26 EMA, showing increasing bullish momentum at the time of writing.
The RSI is currently hovering in the neutral zone just below the 52.00 level, but is not giving any signals. It has been inactive for the last five days. During the last few hours, there was an upward movement of the indicator towards the overbought area, indicating an increasing bullish presence.
The Bollinger Bands are currently wide and will widen in the future based on dark green candlesticks. Band extensions point to increased volatility in the price of Ethereum, which is currently just under $2300. Meanwhile, when the price is above the centerline of the band, it will have an uptrend for the next few candles.
Overall, the technical analysis on the 4-hour chart gives a buy signal, with 14 of the 26 major technical indicators pointing to bullish support. On the other hand, only three indicators are giving sell signals indicating a downward correction. Meanwhile, nine indicators continue to lag, supporting neither side of the market.
The technical analysis of 24 hours shares this opinion and also gives a buy signal: 13 of the 26 indicators point to an upward movement, while only three indicators point to a downward correction. Meanwhile, ten indicators remain neutral and give no signal at the time of writing.
What can we expect from the Ethereum price?
4-hour chart according to Tradingview
Traders should expect Ethereum prices to rise to the $2400 mark if the bulls continue to pull. However, the lack of recent momentum suggests that an upside breakout is unlikely and that price should consolidate at $2300.
While medium-term indicators remain bullish, a significant breakout in the coming days is unlikely. However, in case of a strong rejection at $2400, the Ethereum price will return to the $2100 support level.
Denial. The information provided does not constitute commercial advice. .com is not responsible for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.
frequently asked questions
How high can Ethereum GO 2020 go?
Ethereum News Price Forecast ….
How much will Ethereum cost in 2030?
The price of Ether…. predict
How much will Ethereum be worth in 10 years?
Ethereum price predictions…
ethereum price prediction end of 2021eth price prediction 2025ethereum price prediction chartethereum price prediction 2021ethereum price prediction todayethereum price prediction 2022,People also search for,Feedback,Privacy settings,How Search works,ethereum price prediction end of 2021,eth price prediction 2025,ethereum price prediction chart,ethereum price prediction 2021,ethereum price prediction today,ethereum price prediction 2022,bitcoin price prediction 2021,price analysis on ethereum