TL;DR Breakdown
- Ethereum price prediction expects a rise to $1,200
- Bullish action continues strong above $1,100
- Volatility begins to slightly decline
- Support levels continue to be established above $1,080
- ETH new ATH’s expected before January 2021 is out
Ethereum (ETH) has lived underneath Bitcoin’s shadow for a long time, but after this bull run continues to above $1,100, ETH addresses continue to increase as popularity booms. ETH price might just be set to break the All-Time-High (ATH) before February 2021.
ETH price has continued bullish and established support. Over the last seven days alone, ETH price has grown exponentially – seeing an increase of over 60 percent in less than a week’s duration. The ETH price bull run only continues skyward.
At the time of writing ETH price currently sits at $1,146.79 – up 12 percent on the opening price of the day.
Use the oscillator below to check what role ETH might play in your portfolio
Ethereum price prediction: 1-Day chart overview
The 1-Day chart shows us a clear and concise picture of ETH price – it is heading skyward and shows no signs of stopping. This bull run is likely set to test the ETH ATH of around $1,400 by the end of the month.
Observing the Historical Volatility (HV) indicator, we can see that volatility peaked with the initial price hike to $1,000 but stopped and begin decreasing despite the bull run continuing. This indicator highly suggests that the market community accepts this bullish momentum and clear Fear of Missing out (FOMO) has begun.
The Relative Strength Index (RSI) indicator shows that ETH price is well above the upper RSI boundary and is currently considered overbought. In general, this would create the expectation of a sudden price drop – which is still a possibility – but, as a result of popularity, ETH price will likely continue to proceed upwards.
Ethereum price prediction: 1-Week chart overview
Observing the 1-Week chart, we can see that the last four weeks (including this week) have all remained majorly bullish – of which the last two candles show huge growth in ETH price. Following Bitcoin’s ATH record-breaking bull run, ETH now sets its own path towards breaking its own.
The HV indicator shows a slight decline in volatility now, despite ETH price continuing bullish, while the RSI shows us an even higher RSI value on the 1-Week chart overview. Again, despite this value hovering well above the upper boundary, it is unlikely that ETH price will drop heavily except for healthy price corrections.
Ethereum price prediction: volatility chart overview
Observing the ETH volatility 1-Day chart overview, we can see that volatility initially peaked due to the huge percentage rise in ETH price through the weekend. This volatility is now seeing a steady decline while prices remain bullish.
This decline in volatility despite bullish movement suggests that ETH price will continue bullish until a time that volatility shows further progression upwards.
Ethereum price prediction conclusion: highly expectant that ETH price will hit $1,200 by tomorrow
This Ethereum price prediction concludes that the ETH price will reach $1,200 by tomorrow due to steady support level establishment and recent price pattern history. As the bull run continues, the ETH price ATH continues to come that much closer to being broken and following Bitcoin’s direction.
As each increasingly high support level is found, it is highly suggestive that ETH will continue bullish towards $1,200 and above in the next two days. If this prediction is correct and volatility remains on a decline, ETH price may strive even further to beyond $1,300 before the week is out.
As always, trade safely, carefully, and only trade what you can afford to lose.
