The Ethereum price prediction reveals that ETH is facing key support as the market price follows the downward move.
Ethereum prediction statistical data:
- Ethereum price now – $1519
- Ethereum market cap – $182.5 billion
- Ethereum circulating supply – 121.6 million
- Total Ethereum supply – 121.6 million
- Ethereum Coinmarketcap Ranking – #2
Resistance levels: $2,300, $2,500, $2,700
Support Levels: $800, $600, $400
As the market opens today, after touching the resistance level at $1596, ETH/USD down with a bearish bias. The coin opens at $1535, and it is currently dropping towards the $1500 support level around the 9-day moving average.
Ethereum Price Prediction: Ethereum Price May Face South
The Ether price is likely to break on the downside, and it is likely to break down sharply to gain more downtrends. However, ETH/USD is preparing to break below the 9-day moving average if the bears increase the pressure. Therefore, if it slips below the 21-day moving average, the critical support levels of $800, $600 and $400 can be tested when the Relative Strength Index (14) technical indicator crosses below the level. 60.
Meanwhile, ETH/USD could either rally towards the upper boundary of the channel or extend its decline towards the $1500 support level. Meanwhile, the price must stay above the moving averages to reach the resistance levels of $2300, $2500 and $2700. Otherwise, there is a risk of more dips below the channel.
Compared to Bitcoin, the daily chart reveals that Ethereum price is hovering above the 9-day and 21-day moving averages. If the price starts a bullish move, it is possible for the coin to break above the upper boundary of the channel. The next resistance key can be located at the 7500 SAT level. If the price rises, it might even break the 8000 SAT and above.
However, if the price slips below the 21-day moving average, the bearish move could cause the coin to roll all the way to critical support at 6000 SAT and below. The Relative Strength Index (14) still remains below the 70 level, suggesting a sideways move.
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