Today’s predictions will discuss activity in the ETH/USD and ETH/BTC markets. We will also see what to expect from this market, going through the signs displayed on the trading indicators. At this point, we can say that the price movements of Ethereum/Bitcoin and Ethereum/US dollars are quite similar.
Statistical data on Ethereum coin predictions:
Ethereum coin price now: $1626
Ethereum Coin market cap: $197.6 billion
Ethereum Coin circulating supply: 121.8 million
Ethereum Coin total supply: —–
Ethereum Coin Coinmarketcap Ranking: #9
Important levels:
Higher tiers: $1,600, $1,630, $1,700
Base tiers: $1,680, $1,665, $1,626
Both markets are in a downtrend, after a major bullish rally. Nevertheless, it seems that the ETH/BTC market is performing better than ETH/USD. Although both ETH markets have been performing impressively so far, let’s still see what to expect from this point.
Ethereum Coin Value Prediction: ETH Has Started a Downtrend
ETH/USD daily chart depicts a bear market. This is confirmed by the trading indicators on this chart. Although the moving average lines remain below the price movement, the subsequent candle formation remains bearish. Soon the price candle will find its way below the faster MA lines and a new downtrend may continue from there until lower support is found.
Additionally, the Stochastic Relative Strength Indicator confirms that the downward correction is strong. The indication that this could be a strong downtrend comes as the indicator wires have crossed in this overbought region. Also, this wire seems to be pointing strongly downward. Therefore, this indicates that the trend is likely strong. Moreover, it can cause the value of this Ethereum market to support $1,400 or $1,300.
Ethereum Coin Value Prediction: ETH is still on a downward correction against Bitcoin
Although, the ETH/BTC market saw a bigger rise in value. Currently, it has started a downward trend. The last bearish candle touched the faster MA line, while the. However, the downtrend seems to be weakening as the Stochastic Relative Strength indicator shows that the trend has already reached the oversold zone.
Although this indicator shows no signs of an upward correction, it will likely correct sooner. This is because of the oversold region already. Additionally, weaker support will be found, but the fact remains that the current price level may not be too far off. Therefore, Ethereum’s new support could be around $0.067.
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