Ethereum Price Prediction: ETH Price Prepares to Strike $2K?

• 1 Ethereum Price prediction suggests nan uptrend mightiness continue.
• 2 ETH value collapsed retired of erstwhile 6 months precocious and sustained supra $1700.
• 3 Ethereum value is trading supra nan 50 and 200 time EMA and displayed a aureate crossover.

Ethereum value prediction suggests a emergence successful nan agelong word implying that nan upward momentum will proceed successful coming months. Ethereum value has recovered astir 30% from nan caller plaything debased astatine $1370.00 and succeeded successful breaking retired of nan erstwhile 6 period high. ETH value formed a bullish hammer candle adjacent $1370 and managed to climb supra nan 200 time EMA indicating that nan positional inclination is still successful nan upward direction. 

Ethereum value is presently trading astatine $1810 pinch an intraday summation of 1.17% and 24 hr measurement to marketplace headdress ratio astatine 0.0573. The brace of ETH/BTC is trading astatine $0.065904 pinch an intraday summation of 0.88%. In January, Ethereum value formed a double bottommost shape and collapsed retired of nan neckline hurdle. 

ETH value began to emergence by forming higher precocious candles and reached nan Pre – FTX illness level which acted arsenic a hurdle for nan bulls. However, Ethereum value was capable to prolong supra $1500 level but grounded to springiness nan travel up momentum. ETH value consolidated for a fewer weeks successful a constrictive scope and showed signs of guidelines formation. During nan scope bound movement, it besides faced insignificant profit booking from nan guidance levels but bulls succeeded successful defending nan $1500.00 support. In March, wide marketplace sentiment turned highly bearish owed to nan illness of Silvergate Bank and Silicon Valley Bank. ETH value dropped beneath nan little range. However, ETH value witnessed a monolithic spike successful nan buying measurement and bulls successfully bounced backmost from nan little levels.

Will Ethereum Price Hold nan $1800.00 Level ?

ETH/USDT regular floor plan by TradingView

Ethereum value prediction favors nan bulls. Meanwhile, ETH value displayed a aureate crossover; buying measurement is besides connected nan emergence indicating that nan caller rally is sustainable. The probability of reaching $2K will summation if ethereum value is capable to clasp nan $1700 support level. However, if nan business changes and ETH value drops beneath nan 200 time EMA, past nan bears whitethorn again effort to resistance nan prices down toward $1400. 

Ethereum value is trading supra nan 6 months precocious but prices are adjacent nan proviso area of $1800. Therefore, prices are expected to consolidate for immoderate clip successful nan constrictive scope earlier deciding nan further direction. The MACD had generated a affirmative crossover indicating prices are expected to waste and acquisition pinch a bullish bias. The RSI astatine 67 sloping upward indicates that a small much room for upside is open. 

Conclusion

Ethereum value prediction suggests a emergence whitethorn beryllium seen successful nan agelong tally and that it whitethorn scope $2000 if it succeeds successful holding $1700 arsenic support. Technical study of ETH value reveals an uptrend and nan power of bulls successful nan little levels. However, prices are adjacent nan proviso area and are expected to consolidate for immoderate clip earlier deciding further direction.

Technical levels

Resistance levels : $1900 and $2000

Support levels : $1600 and $1370

Disclaimer

The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational purposes only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.