The Ethereum price prediction indicates that ETH will move to the upside as any close above $2000 is expected. Let’s have a look at Ethereum price prediction today.
ETH/USD Market Key Levels
Resistance levels: $2500, $2700, $2900
Support levels: $1500, $1300, $1100
Ethereum Price Prediction
ETH/USD is currently trading at $2113, having hit an intraday high of $2138 during the European session today. On a daily basis, Ethereum (ETH) is following in the footsteps of Bitcoin (BTC), as its margin of gains has been limited this time. Following the start of today’s trade at $1954.27, ETH/USD is heading for the 9-day and 21-day moving averages.
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Ethereum Price Prediction: Will the ETH Price Rise?
Since the beginning of this month, when the Ethereum price reached a monthly high of $2849, it has been trending downward, currently trading at $2118. Meanwhile, the Ethereum price may move towards the 9-day and 21-day moving averages before reaching the nearest resistance level of $2300.
However, the Ethereum price may start to rise and may reach the resistance levels of $2500, $2700, and $2900, respectively. Meanwhile, if the technical indicator decides to quickly turn south, there may be a cross below the lower boundary of the channel, and the bearish drop may likely roll the market down to support levels of $1500, $1300, and $1100 as the Relative Strength Index (14) recovers from the oversold region.
When compared to Bitcoin, the market price may focus on the downward movement within the channel as the red line of the 9-day MA crosses below the green line of the 21-day MA. ETH/BTC is currently trading at 6894 SAT, but if the market begins to rise, the next key resistance level could be 7500 SAT or higher.
On the downside, a possible bearish movement below the lower boundary of the channel is possible; if this occurs, the support levels of 6200 SAT and below may be visited. Meanwhile, the market could have a bullish day today as the Relative Strength Index (14) indicator crosses above the 40-level, indicating more bullish signals.