The Ethereum price prediction shows that ETH is moving to the upside as any cross above the $1500 price mark is expected.
ETH/USD Market
Key Levels:
Resistance levels: $2000, $2200, $2400
Support levels: $600, $400, $200
ETH/USD is trading at $1252 after recording an intraday high at $1258 during the European session today. Looking at the daily chart, ETH/USD is hovering above the 9-day and 21-day moving averages after the beginning of today’s trade at $1192.
Ethereum Price Prediction: ETH Price Heads to the Upside
Since the beginning of this month, after the Ethereum price touched the monthly high of $1275. Since then, the coin has been moving sideways, trading at the $1252 level. In the meantime, the Ethereum price may move towards the upper boundary of the channel to touch the nearest resistance at $1500.
However, the Ethereum price may begin to do well and cross above the channel as the price could hit the resistance levels at $2000, $2200, and $2400 respectively. Meanwhile, should the technical indicators decide to make a quick turn to the south, there may be a cross below the lower boundary of the channel and the bearish drop may likely roll the market down to the support levels of $600, $400, and $200 but the Relative Strength Index (14) is crossing above the 50-level, heading to the north.
When compared with Bitcoin, the Ethereum price may focus on the upward movement within the channel. ETH/BTC is currently trading at 5989 SAT as the coin heads to the resistance level of 6000 SAT, the next key resistance may likely be at 7000 SAT and above.
On the downside, a possible bearish movement below the 9-day and 21-day moving averages may likely come into play, and the support level of 5000 SAT and below could be visited. Meanwhile, the market is having a bullish day today because the Relative Strength Index (14) indicator moves to cross above the 60-level, suggesting more bullish signals.
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