In our last Ethereum price prediction, we wrote about how Ether prices fell below $3,000. We also mentioned how prices will go further down towards $1,800 in case the crypto market stagnates. Despite crypto prices calming down a bit in the last few days, panic still looms over the market. What might happen in the near future? Let’s tackle the latest Ethereum price changes in this article.
Ethereum Price is currently at a Support Area
Ethereum price has respected the support at +/- $2,300 and has been staying there for about a week. If support holds, Ethereum price could next surge to $2,850 as resistance is located there that has not yet been retested and thus not confirmed as resistance. The $2,850 to $3,000 zone has long served as support. If the price breaks the $2,300 support, we expect a descent to $2,000 – $1,800. There is support for a major sideways phase.
Will Ethereum price Hold or Break $2,300?
The Ethereum price has a sideways phase between $2,300 and $2,550. Since flat periods count as corrective periods, we expect to break $2,300 and drop to $2,000 – $1,800. If we break the $2,550 resistance, we anticipate a move to $2,850 – $3,000. The price could then drop to $2,000 thereafter. In the end, it doesn’t matter whether we break out of the sideways phase in a bullish or bearish manner. The overall goal remains $2,000, regardless of the market trend.
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