- ETH price prediction shows us the crypto-asset managed to ignore a brief setback in the market to exchange at a new ATH at $2,455.
- Ethereum’s Moving Average Convergence Divergence (MACD) short-term technical indicator shows ETH is firmly bullish.
- Key technical indicators show whales are currently on a buying spree, hinting at Ethereum is up for an upsurge.
Ether has managed to maintain an upward trajectory despite the recent market-wide price decline. This buoyancy indicates Ethereum bulls are committed to pushing their favorite coin towards new milestones.
ETH Price Prediction: General price overview
Today, Ether managed to record a new all-time high at $2,477.56 to commence its bullish campaign, with the cryptocurrency striving to hit the $2,500 mark. Despite the most recent price retracement in the crypto market, Ethereum was one of the few tokens that maintained an upward movement. For instance, Bitcoin faced resistance at the $64,000 resistance line to plunge towards the $62,000 region. At present, most crypto assets are showing a mixture of red and green in their charts.
What made Ethereum survive the latest market plunge was its consolidation between 2 merging trend lines that created a string of higher lows and lower highs. Such price movements are regarded as a symmetrical triangle channel. Ether is poised for a 35 percent price movement to either direction from the current symmetrical triangle pattern.
Following Ethereum’s 31st of March price movement above the upper trend line at the $1,880 region, a 35 percent bull run towards the $2,560 mark appears to be manifesting. We know this by calculating the distance between the first apex low and first apex high and tallying the result to the breakout point. As for the MRI technical indicator, the $2,340 critical breakout mark was a real struggle for the crypto asset.
Ethereum has its buyers to thank for the bullish drive in moving past this crucial level during this week’s trading session. Wednesday’s bullish drive saw Ethereum settle at the $2,430 region. According to analysis, Ethereum is slated for a potential last push that involves a 5 percent price surge towards the projected target at the $2,560 mark.
ETH price movement in the past 24 hours
According to Ethereum’s 24-hour price movement, ETH is currently experiencing a price rally of high magnitude. Such price movements often witness colossal exchange deposits from holders looking to book for profits. However, that was not the case with Ether, as its investors remained focused on extending the ongoing buying spree. To that effect, over 14,500 new daily addresses have joined the Ethereum platform in February to date trading sessions. Simultaneously, over 11,500 ETH tokens have dropped from crypto exchange deposits. Such activities paint a clear picture that Ethereum is on an upward trajectory and will continue surging.
ETH 4-hour chart
According to the 4-hour chart, Ether’s Moving Average Convergence Divergence technical indicator shows the crypto coin is on an upward trend. Since early April, the MACD has been sending bullish signals, promoting investor confidence in the crypto asset. For example, Ethereum’s MACD blue line is currently way above the signal line. This indicates that it is a good time to buy the crypto token. Additionally, a surge past the $2,500 mark might activate a serious buying spree as the next target will shift towards the $3,000 mark.
All factors considered, Ether’s price movement shows a bullish narrative, showing signs of surging higher than ever before. However, if holders begin booking profits early, Ethereum might cut short the ongoing bull run.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.