Key Support levels: $2,500, $2,330
Key Resistance levels: $2,800, $3,000
The first key resistance for ETH will be at $2,800. In the past, this level was never really difficult for buyers to overtake. If this is once again the case, then the biggest challenge for ETH is the $3,000 resistance. So far, the support at $2,500 was well-defended, and ETH managed to rally over 10% after touching it.
Technical Indicators
Trading Volume: The volume is rather low for such a move. Therefore, it’s important to remain vigilant.
RSI: The daily RSI made a higher low and is now moving above 50 points. It is important for the RSI to also make a higher high. Otherwise, this most recent move may reverse.
MACD: The daily MACD remains bearish, but the histogram is making higher lows, and a possible crossover to the positive side is likely if the bullish momentum maintains.
Bias
The bias for ETH is neutral. ETH would turn bullish if it manages to break above $3,000.
Short-Term Price Prediction for ETH
ETH has succeeded in making another higher low on the price chart after the bounce from $2,500. This is a bullish signal. So long as this is maintained, the cryptocurrency has a good chance of challenging the key resistance.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Ecosystem
Research
News Network
About