Ethereum Price Prediction: Bulls are struggling to break the $3.2K resistance

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TL;DR Breakdown

  • Ethereum price prediction is bullish for today.
  • ETH/USD saw a rally today back above $3,100.
  • Ethereum is likely to continue moving higher.

Today’s Ethereum price Prediction is favourable for the bulls since the market has risen above the $3,100 previous barrier after a substantial advance overnight. As a result, we believe ETH/USD will continue to rise and recoup even more of its losses from earlier this week.

Over the past 24 hours, the overall market has been up. The giant assets Bitcoin and Ethereum are up by 4 % and 5%, respectively. While the rest of the top altcoins have performed even better.

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Ethereum price movement in the last 24 hours: Ethereum returns above $3,100

The price of ETH/USD hovered in a range of $2,930.01 – $3,147.78 over the past 24 hours, signalling little movement. Trading volume has dropped by 19.59 percent and is now at $22.3 billion, while the market capitalization stands at about $368.7 billion, resulting in a drop of about $7.2 billion since the same time yesterday.

Ethereum price over the past 1 month: Ethereum has retreated from its peak at $1,357

The market appears to have broken through an important barrier last night, climbing back above $3,100 and beginning a new advance. We may see further resistance at this level in the next few hours before seeing another drop. This is because many traders are likely to monitor the price at $3,100, and they will attempt to take some profits off the table.

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We believe that Ethereum will continue moving higher, and we shall see further resistance near $3,350 – $3,400 where long-term long support is also found

We maintain our bullish forecast in the short term. If Ethereum can maximize momentum and break above $3,400, it will likely climb up to $4,000 in the next few weeks. Additional resistance is expected near $550

4-hour  Ethereum price prediction chart: ETH ready to move higher?

On the 4-hour chart, we can observe that the Ethereum price is stalling around $3,100 as bulls are likely to continue pushing up.

Ethereum Price Prediction

ETH/USD 4-hour chart. Source: TradingView

The price of Ethereum has been trading in a range for much of the past weeks. On September 7th, after reaching a high of approximately $4,000 on August 31st, the first fall began.

Above $3,100, support was established, with several days of consolidation in between. ETH began to fall from September 17th after a modest increase to $3,650.

Support was established at $2,640 on Tuesday, with a big reaction the day before. We anticipate that the Ethereum value will rise further over the next 24 hours as long as the bullish momentum continues today.

Ethereum Price Prediction: Conclusion 

Today’s Ethereum price analysis is bullish as bulls have reclaimed the $3,100 mark. We expect ETH/USD to rise further in the next 24 hours as long as the momentum continuum remains intact.

Read also Cardano (ADA) Price Prediction, Binance (BNB) Price Prediction, Litecoin (LTC) Price Prediction, Dogecoin Price Prediction

 

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