$ 1,230.68 6.73%
$ 42.36 9.15%
$ 0.068360 4.54%
$ 4.60 4.35%
$ 21,420.00 2.58%
$ 239.19 2.64%

Ethereum price prediction: Ethereum finds resistance below $1,850, prepares for a retracement

Ethereum price prediction Ethereum finds resistance below prepares for a retracement

TL;DR Breakdown

  • ETH retests resistance at $1,850.
  • Support at $1,725.
  • Next resistance at $1,920.

Today’s Ethereum price prediction is bearish as further bullish momentum was stopped by previous resistance at $1,850. Therefore, we expect Ethereum to retrace over the upcoming days.

Ethereum price prediction: Ethereum finds resistance below $1,850, prepares for a retracement 1

Cryptocurrency heat map. Source: Coin360

The cryptocurrency market is in the green today as slight bullish pressure was seen overnight. Market leader, Bitcoin is up by 1.9 percent, while Ethereum has gained 4.74 percent. Most of the altcoins have already found some resistance, meaning that we could see most of the gains diminish over the next 24 hours.

Ethereum price prediction: Ethereum finds resistance below $1,850, prepares for a retracement   

ETH/USD opened at $1,815 after bullish pressure took the market from 1,686 to 1,815 yesterday.  Right now, bullish momentum has stopped and current price action indicates that we will see retracement over the next 24 hours. Therefore, Ethereum is likely to retest previous resistance as a support around the $1,725 mark.

Ethereum price movement in the last 24 hours

The ETH/USD price moved in a range of $1,734 – $1,837, indicating a good amount of volatility. Trading volume has seen a huge increase of 42 percent over the past 24 hours, totaling $24.3 billion. The total market cap has returned over $200 billion and stands at $209 billion, ranking the coin in 2nd place overall.

ETH/USD 4-hour chart – ETH finds resistance at $1,850

On the 4-hour chart, we can see that Ethereum currently consolidates after failing to reach $1,850. Therefore, ETH/USD should see a reversal, resulting in a retracement back to the previous resistance of around $1,725. 

Ethereum price prediction: Ethereum finds resistance below $1,850, prepares for a retracement

ETH/USD 4-hour chart. Source: TradingView

Overall, Ethereum has seen huge volatility last week, after Ethereum briefly moved above $1,900, it got quickly pushed back towards the $1,725 mark. ETH/USD consolidated above the support as slowly moved towards resistance at $1,850, from which resistance was found.

What followed was a several-day downswing until support was finally found at the $1,550 mark. From there, Ethereum quickly reversed and saw a quick move towards $1,725 support turned resistance. After some consolidation, Ethereum built a base from which to attempt another move higher. Yesterday, the bullish Ethereum price momentum continued, resulting in a quick upside of 9 percent.

Right now, Ethereum resists further upside below $1,850 previous major resistance, as the market momentum has been exhausted. Therefore, we expect Ethereum to retrace over the next few days, and retest previous resistance at $1,725 as support. From there the Ethereum price action will likely prepare for another push higher later this week.

The next target for ETH/USD is located around the $1920 mark. If Ethereum moves from the $1,725 support to the $1,920 resistance, we could see a good short-term trade opportunity with a potential gain of around 10-11 percent.

However, if the support at $1,725 does not hold, Ethereum could push lower towards the $1,650. This scenario would put the market structure in a dangerous position as further downside would likely start a much substantial medium-term bearish momentum.

Alternatively, if Ethereum manages to continue its bullish momentum today, we could see a quick spike towards the $1,920 resistance before a more substantial retracement is done.

Ethereum Price Prediction: Conclusion 

Ethereum price prediction is bearish for the upcoming days as price action indicates that we will see retracement soon. The first support level is found around the $1,725 mark, which previously acted as a resistance, and from there ETH/USD will likely build a base from which to push towards the next resistance at $1,920.

While waiting for Ethereum to retrace, see our guide on how to mine Dogecoin and Dogecoin long-term price prediction.

Disclaimer. The information provided is not trading advice. 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.



Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Cryptocurrency Investments To Make in a Bearish Market - Shiba Inu (SHIB), Dogecoin (DOGE), and RoboApe (RBA)
ISO 20022 compliant crypto-list
Shiba Inu price analysis: SHIB expected to stay bullish for the next 24 hours
Monero Price Prediction 2022-2031: Is XMR Price Going Higher?

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users