Ethereum price is showing good improvement. At the time of reporting, ETH is currently trading at 195.16 USD, after a 6.11% increase since last week. It seems that the Ethereum price is finally entering into the bull market.
Current Ethereum Price Analysis
Today, the Ethereum price opened at 189.06 USD. The day’s range is between 188.29 — 197.29. If the selling demand makes Ethereum fall below $188 then the next support can be observed at $183 and 200-days EMA. The next resistance for ETH lies at $200 and having bearish.884 Fib retracement at $213.
The RSI is more than 50 levels. It has started to point upward and is displaying strong signals toward the bull market. Moreover, some alteration has also developed between the RSI and price action. This clearly indicates that the next resistance is at 200 USD and if Ethereum price gores pass this resistance then the next resistance is at $213.
>> You like trading? Then come into our trading group and discuss with us<<
Ethereum Price Analysis: 5 days chart is promising
This year is showing some positive momentum for the crypto market. The Ethereum price has bounced back up. It is well beyond its EMAs. Now, Volume-wise, Ethereum is almost more than 12 billion USD.
Right now, buyers are in the driving position. This indicates that volatility can be assumed to grow. As mentioned earlier, the next Ethereum price target is around $200 because of the resistance level. If the Ethereum price is able to beat these two resistances of $200 and %213 levels then ETH can touch $250 soon.
Ethereum Price Analysis: Oscillating between Buy to Strong Buy Zone
The summary of the 1-day indicator shows that the Ethereum price is oscillating between buying to strong buy zone.
However, the RSI oscillator is showing mostly neutral behavior. The Relative Strength Index is at 73.43, signifying selling action.
The moving averages are in the strong buying zone. The exponential moving average and simple moving average both are in the strong buying zone. The Resistance levels are $200, and $213 while the support levels are $195 and $190.
In the previous analysis, we had mentioned that the Ethereum price could touch $180. The ETH was already slowly and steadily climbing from the past few weeks. The bulls were comfortably trading above each EMA on the daily chart but the RSI (Relative Strength Index) was inching closer to the overextended zone. Ethereum has been experiencing a range of updates and hard forks designed to improve the current Proof of Work protocol for a Proof of Stake. These could be the reasons behind the ETH run.
Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.
Follow us on Social Media and subscribe to our free crypto newsletter!
Diskutiere mit uns!
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
You might also like
More from Ethereum
The Ethereum price is once again displaying a slightly promising behavior. In the last 24 hours, its price has increased by almost …
The price of Ethereum reached $490, about 11% under our bullish target of $550. Can Ethereum still reach the $550 …