- Ethereum price prediction experiencing an upward thrust
- Ethereum continues to portray bullish tendencies
- Next strong resistance target predicted at $490
Ethereum price has been trending in an upward motion in the past 24-hours, and the queen of cryptocurrency is currently at $456.93 after touching a high of $460.87. Bitcoin is strongly 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 $457.02 mark. While on the other hand, trading view technical signals consistently show weak buying momentum (17) and an even weaker selling momentum (3).
The moving averages signal towards a strong buying impetus of 15 with the Exponential moving average valued at $442.60 inclined towards buying. Simultaneously, the oscillators depict a weak tendency of 7 with a relative strength index of 67.29 inclined towards neutral action.
Out of the 17 moving average indicators, 15 give a buy signal while 1 stands on a neutral and selling signal. Likewise, out of the 11 Oscillator indicators, 2 are giving a buying signal, while 7 stands on neutral, and 2 leans towards buying.
Ethereum price prediction 6-hour chart
Ethereum price prediction: What to expect?
The crypto currency queen is embarking a new high with a genuine price action.
Chart below depicts Top trading view analyst VincePrince’s views on the ETH performance highlighting the local and 6-hour time frame.
Proceeding towards a critical support area, it is imperative for the cryptocurrency queen to present s precise price action to continue the Bullish trend currently being experienced. The current happenings signify the criticality of sturdy volatile fluctuations in the cryptocurrency market, the analyst calls it an essential aspect of pricing analysis and one not to be underestimated. Calling the eruptive movements golden opportunities, VincePrince thinks it is these trends that can lead to high gains if understood well.
The chart portrays the queen entering the upper frontier of the enormous ascending structure, making the trend line here along with 20-EMA points. A cluster is being formed within which stable bullish movement is inevitable for Ethereum and provides a platform to test the next set of resistance marks. To continue gaining momentum, the queen needs to maintain this formation. Moving below the structure may detect downward extension with a brutal bearish pressure until the 150-EMA mark.
VincePrince discusses the bearish functionality to be the least of possibilities pointing towards the likelihood of Ethereum’s capabilities and its willingness to test new higher ranges with continued bullish momentum.
Exploring these rapid trends in the ever-evolving cryptocurrency market is crucial to its game. On the contrary, the analyst said a lack of detailed data could lead to low yielding trades despite the bullish trends.
Another highly valued pricing analyst Atlas Trades believes $465 to be the new optimal resistance target after the pullback for the $425 support resistance. She predicts Ethereum to grow towards the uptrend gradually, and a long position opening needs a minute observation of the developing trends.
