Ethereum price prediction summary
- Ethereum (ETH) opened the daily chart at $3920.
- Bitcoin and Ethereum are up by 3 percent.
Ethereum (ETH) opened the daily chart at $3920 following slight losses at the close of yesterday’s session. The leading altcoin has since recovered and even tested an intraday high at $4149.As a result, traders have observed the continuation of last week’s uptrend steadily.
There are high chances of testing the all-time high again at $4375. However, this is only possible if the bulls maintain upward momentum above $4060.
The overall cryptocurrency market, according to Coin360, is trading bullishly with all charts painted green. Bitcoin and Ethereum are up by 3 percent. Cardano is the best performer of the day with a positive change of 5.04 percent after it broke above the $2.00 psychological support.
Daily candlesticks on the Ethereum price chart
Ethereum’s relative strength index is trading in the neutral zone and lying towards the bullish zone. The Bollinger bands are contracting on the hourly chart and the price has already stepped below the moving average and the middle line. The nearest resistance now lies at $4130.
The hourly balance of power indicator is showing the bulls are in command and heading higher despite the resistance. However, a major barrier stands between ETH and the ATH around $4200. Today’s daily range on the Ethereum chart starts from $3890 – $4149.
Ethereum price chart by TradingView
Ethereum price prediction conclusion
The past few weeks have seen Ethereum struggle to gain any significant upsides until October 20th when the coin broke above $4k. Since then, the leading altcoin has retested the $4000 support multiple times even after recording pullbacks. However, the pullbacks have always been brief and followed by rapid spikes.
Ethereum price prediction is bullish on the daily chart with the bulls optimistic to reverse last week’s sell-off. Therefore, we can hope for the price to rise in the next 24-hours and test a higher daily high.
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