ETH/USD Price Prediction
- Ethereum price prediction indicates that ETH/USD opened the 24-hour chart at a price of $3,811.
- Today we are expecting the bulls to push slightly higher and test the next target
- Ethereum, Solana, ICP, and Tron gained over 1.5% in value.
Ethereum price prediction indicates that ETH/USD opened the 24-hour chart at a price of $3,811. The coin is still trading between high market choppiness with rapid fluctuations targeting the $4K level. Ethereum bulls are hot in pursuit to exert more buyer pressure and keep pushing the price of Ethereum upwards.
Today we are expecting the bulls to push slightly higher and test the next target and prepare for a strong consolidation higher.
Generally, the cryptocurrency market traded with mixed signals where Bitcoin and a few other altcoins lost value while Ethereum, Solana, ICP, and Tron gained over 1.5% in value. The market leader Bitcoin shed 1.55% of its value, followed by the worst performer as DOGE, which lost 4.96%.
Ethereum price prediction on the hourly charts
The number one altcoin has witnessed strong bullish movements in the past one month since the beginning of October. This is after the 7th October rally to $3,650 that was preceded by the October 1st uptrend past the $3,150 resistance.
Meanwhile, October 7th was followed by a slow retracement that saw the coin slump for several days around the $3,400 mark. Around the start of this week, Ethereum bulls managed to find a solid base to consolidate further gains.
As a result, strong bullishness saw the price of Ethereum jump to a local high of just above $3,650. On 15th October, the coin was already performing around a higher low around $3,800. Until yesterday, Ethereum came short of the $4,000 target by missing 3-points after testing $3,997.
On the hourly chart, Ethereum activated several green candlesticks to test an intraday high of $3,919 – bring it closer home to the $4,000 target which The Coinrise had earlier reported to be the next support level.
We can therefore expect the coin to rise and break past the $4,000 mark in the course of the day.
Ethereum price prediction conclusion
Ethereum price prediction is positive and we hope that the price of ETH/USD pair will rise in the next 24-hours. Yesterday’s chart was closing at a slowdown that could have resulted in a downside from the October 16th high of $3,997 but a bullish opening of today’s chart saw buyers offset any signs of bearishness.