The Ethereum price prediction reveals that ETH is currently trading above $1700 after a significant drop towards $1500.
Ethereum prediction statistical data:
- Ethereum price now – $1735
- Ethereum market cap – $210 billion
- Ethereum circulating supply – 121.7 million
- Total Ethereum supply – 121.7 million
- Ethereum Coinmarketcap Ranking – #2
ETH/USD market
Key levels:
Resistance levels: $2,600, $2,800, $3,000
Support levels: $1,000, $800, $600
ETH/USD is trading at $1738 where the coin is likely to break through the upper boundary of the channel, but the Relative Strength Index (14) technical indicator shows that the bullish move may come closer as the signal line is likely to cross the overbought region . However, the 9-day and 21-day moving averages indicate that the bulls still have the ability to control the market as the 9-day MA remains above the 21-day MA.
Ethereum Price Prediction: What to Expect from Ethereum
As the Ether price hovering above the 9-day and 21-day moving averages within the channel, the coin is likely to embark on an upward move. However, a sustained move of this barrier may enhance the upside move and allow for an extended rally towards the $1800 resistance level. However, if the coin remains above this level, the nearest resistance at $2,600, $2,800 and $3,000 could come into play.
Nevertheless, the technical indicator Relative Strength Index (14) on the daily chart may slide to the negative side, further selling below the moving averages could take the coin to the $1500 support level. Any further bearish moves could locate supports at $1,000, $800, and $600 respectively.
Against Bitcoin, ETH/BTC is trading above the moving averages as bulls are likely to return to the market. Now, Ethereum price is trading at 7226 SAT as the bulls might push the price through the channel. On the other hand, if the market breaks below the 9-day moving average, the next key support may be at 6000 SAT and below.
However, on the upside, if the coin breaks above the channel, the resistance level of 8500 SAT and above can be visited. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross the overbought zone, suggesting that the market could rise.
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