- Ethereum price prediction experiencing an ascending trend
- Ethereum continues to portray bullish tendencies
- Next strong resistance target predicted at $480
Ethereum price prediction: current price
Ethereum price has been trending in an upward motion in the past 24-hours, and the queen of cryptocurrency is currently at $463.83 after dipping to $439.50 earlier today. Bitcoin is briskly approaching an all-time high, all set for the Santa rally, and as witnessed on several stances, Ethereum will most likely follow suit.
At the time of writing, the queen of cryptocurrency is trading hands at the $464.00 mark. While on the other hand, trading view technical signals consistently show strong buying momentum (18) and a weak selling momentum (1).
The moving averages signal towards a strong buying impetus of 16 with the Exponential moving average valued at $449.47 inclined towards buying. Simultaneously, the oscillators depict a weak buying tendency of 2 with a relative strength index of 66.88 inclined towards neutral action.
Top trading view analyst Vince Prince discusses all present and future critical price points and plausible outcomes of the cryptocurrency queen through the chart below.
As witnessed recently, Ethereum (ETH) succeeded to shift above the upper limit faster than predicted and formed an extensive wide-ranging wedge like structure aligned with the wave count. Vinceprince says this leads us to multitude of plausible, highly valuable price actions that the cryptocurrency queen may show up with to further strengthen the breadth of the wedge structure.
Chart above indicates a triangular formation over the upper area of the broadening wedge. Noteworthy here is the trading price of ETC above the 15-EMA where the queen can be seen raising a consistent support frame aligned with the boundary. Proceeding upwards, over this formation in a volatile mode will indicate confirmation of the triangular structure and provide the queen with the much-needed strength to pass the critical upper resistance test. Confirmation above this level will bring Ethereum to the green zone of growth, thrusting in a strong, elongated bullish momentum.The analyst concludes the analysis recommending the queen to not lose support over the upper boundary and invalidate the current bullish mode but to strengthen the wedge formation and hoist the confirmations.
Another top analyst of trading view, Solldy discusses ETH price dipping down to its support level. The chart depicts the price moving downward from strong resistance levels originating in may 2018. Another noteworthy aspect of the chart is the support line originating in May 2020 which the analyst predicts as the next ETH price point. The queen has been depicting a repetitive trend of rising to several marks at various times but at the end dipping down to the support line.
Atlastrades of the trading view further backs up Solldy’s case recommending potential crypto traders to wait and watch for the price to come closer to the support line and predicts the next strong resistance to be at $480.