According to the Ethereum price forecast, ETH is strengthening as it crosses above the moving averages.
- statistics for predicting Ethereum The current price of Ethereum is $1,155.
- Market value of Ethereum: $140.6 billion
- There are 121.4 million circulating Ethereum coins.
- Total supply of ethereum is 121.4 million.
- Ethereum is ranked #2 in the ETH/USD market on Coinmarketcap.
- Levels of resistance: $2000, $2100, and $2200
- $400, $300, and $2,000 in support
Since the coin is now trading at $1,155 and has an intraday bullish crossing and trend, ETH/USD is expected to refresh to the upside. As the greater resistance may arrive in the following positive direction, the price of Ethereum is anticipated to remain above the 9-day and 21-day moving averages today.
Prediction for the price of Ethereum: Possible upward spike
If the price goes closer to the channel’s upper boundary, the positive rise in the price of Ethereum is likely to intensify. Relative Strength Index (14) is a technical indicator that is currently going over the 40-level and may be sending bullish signals into the market to entice more buyers.
To ensure that the coin will face north, the 9-day moving average must remain higher than the 21-day moving average. If it does, the price may then reach the closest resistance levels at $2000, $2100, and $2200, respectively. On the other hand, there might be a slight retreat to the south, which might push the market price to the support levels of $400, $300, and $200 if the technical indicator Relative Strength Index (14) dips below the 40-level.
In comparison to Bitcoin, Ethereum (ETH) maintains its position above both the 9-day and 21-day moving averages. Because the market is still moving down, the relative strength index (14) technical indicator, which is expected to move to cross over the 50-level, is likely to produce a bullish movement.
Daily Chart for ETH BTC
The Ethereum price, however, may reach the resistance level of 6600 SAT and above if the buyers drive the market price toward the channel’s upper border. Trading participants should be on the lookout for any significant selling pressure that might push the price below the channel’s bottom border. This could entice additional sellers to the market, and the support level of 4800 SAT and below would then come into focus.
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