Ethereum Price Forecast: ETH/USD Demonstrates Intraday Volatility Trading Above $2100
ETH Price Forecast
ETH/USD is going to break above the $2150 and stabilize above the $2150 range, looking for future uptrend.
- Resistance: $2300, $2400, $2500
- Support: $1900, $1800, $1700
ETH/USD – Daily Overview
As of this writing, ETH/USD pasi is caught trending at $2113.15 after touching an intraday top at $2151 in the opening trading. If we look at the daily chart, Ethereum didn’t succeed in following the most admired cryptocurrency of the digital world, Bitcoin as its gains have been restricted this time. ETH/USD is still trending above the 9-day and 21-day averages after surpassing the daily low of $2046.
What’s Next for ETH Price?
Ethereum’s best result in the last 10 days was $2145 and today it touched the high of $2151. ETH/USD is going to surpass the present high to $2200 in the upcoming week as the current trend may shift a little bit higher in the next week. The Ethereum price is expected to rise and touch the nearest resistance at $2250. Thus, as the red-line of 9-day MA remains above the green-line of 21-day MA, BTC would continue its path and the price would most surely touch the resistance rates at $2300, $2400, and $2500.
As for now, in case the technical indicator performs a fast turn to the south, there may be spotted a cross below the 9-day moving average and the bearish drop would most likely push the market down to the support rates of $1900 to $1700 as the technical indicator RSI (14) moves around the 65-level.
When compared with Bitcoin, as the green-line of 21-day MA is beneath the red-line of 9-day MA, the market price concentrates on the upward movement inside the dropping channel. ETH/BTC is now trending at the 3628 SAT and in case the market keeps rising, the next major resistance may likely set at 3900 SAT and above.
ETH/BTC – Daily Overview Summary
In general, bearish activity may take place, punching the crypto below the 9-day moving average; in case this occurs, the support level of 3300 SAT may be touched. As for now, the market may have a bullish day today, since the RSI (14) indicator trends above 65-level, and this could potentially give more bullish momentum for ETH.