- Ethereum price prediction expects a rise to $1400.
- Strong resistance lies at the $1200 mark.
- Strong support lies at the $1000 mark.
Following the king of cryptocurrencies, the queen has taken a dive too – as is the usual in the cryptocurrencies. After peaking at around $1,300, the queen took a downturn as did the king at around the 9th of January. Ethereum has since continued falling downwards. Ethereum topped the day at $1,257 but went down to as low as $910 during the 24-hour timeframe. At the time of writing, the queen of cryptocurrencies stands at $1,144.
Out of the twenty-eight technical indicators of Ethereum, fourteen are giving out a buy signal, 9 are neutral, and 5 stand on a sell indication. 8 of the oscillators are neutral, with 3 buys and 0 sells. Eleven of the seventeen moving averages indicate a buy signal with 5 sell and 1 neutral indication.
Ethereum price prediction: What to expect?
Analyst Big Lava has identified Ethereum to be bullish in their Ethereum price prediction. However, the analyst warns that Ethereum may be testing some critical support levels soon. Ethereum broke out of its ascending channel formation as Bitcoin took a hit and started facing corrections. The $950-$1,000 zone consists of a support cluster where various important support levels converge. The analyst has predicted that Ethereum may not be able to hold this support level and fall ever lower.
The next level of support can be found at $832, but the analyst is expecting a dive to the $760-$800 level. Here the EMA50 will act as strong support, and one can hope that Ethereum will stabilize. The moving average convergence divergence is mediating the fall as the MACD is at a bearish cross and is falling downwards. However, if Ethereum cannot hold the second support level, the cryptocurrency can fall even harder, making it all the more difficult to continue back on an upward trajectory. Although, as per the analyst, this scenario seems unlikely currently as, even though on a downward trajectory, Ethereum is still facing bullish pressures.
Analyst Harison has set a very optimistic target of $2,000 for Ethereum in his Ethereum price prediction. The analyst had identified the cryptocurrency as in a symmetrical triangle, which Ethereum broke out of during the start of the year but is now back inside. The analyst has also identified a key support line – acting as the lower boundary of the formation. Ethereum will break out as per the analyst, failing to hold the key support line; it will test the support zone at around $930. The risk/reward ratio will be 7.22 at this level. The analyst expects Ethereum to successfully pullback from the support zone and continue its earlier upward trajectory with a renewed vigor. The cryptocurrency can face some issues at the strong resistance level of $1,280 but will hopefully continue to the potential target of $2,000.
Analyst Global Health Wealth predicted a solid correction in their Ethereum price prediction. Per the analyst, the $1,100 is acting as strong resistance and Ethereum is likely to fall to a zone spanning from $520 to $830. The bearish momentum can last for weeks provided that Ethereum closes below the EMA ribbon.