- The price forecast for Ethereum expects an increase.
- Ethereum under strong uptrend.
- The next strong resistance target is forecast at $ 490
The price of Ethereum has been moving down in the past 24 hours, and the queen of the cryptocurrency is currently at a low of $ 441.77 after hitting a high of $ 468.81. Bitcoin swings are almost over as the US election results are out of the bag and the market slowly moves towards the actual numbers. Ethereum will most likely follow suit, as has been observed in the past.
Ethereum price prediction chart by trade view
At the time of writing, the queen of cryptocurrency is trading with hands at $ 442.53. On the other hand, the technical signals of the trading view consistently show weak buying dynamics (17) and even weaker selling dynamics (2).
The moving averages signal a strong buy impulse of 15, with the exponential moving average tending to buy at $ 430.81, while the oscillators also signal a weekly buy impulse of 2 with a relative strength index of 64.17 for neutral trading.
Of the 17 moving average indicators, 15 give a buy signal, while 1 stands on the neutral and sell signals. Likewise, 2 of the 11 oscillator indicators give a buy signal, while 8 are in neutral and 1 is tending to buy.
Ethereum Price Prediction: What To Expect?
Price analyst Alan Masters takes us through the weekly journey of Ethereum trends, discussing the impact of the Cryptocurrency King’s performance on the Queen’s charts, and describing various aspects of the chart that indicate a massive uptrend.
Price prediction table for Ethereum by Alanmasters
Bitcoin (BTC) leads the way while cryptocurrency queen Ethereum has been left behind, although BTC and ETH have moved in close coordination on several occasions.
The cryptocurrency king is now re-testing the range of $ 16,000 previously observed at the Santa rally in December 2017. This time around, however, the cryptocurrency queen is pursuing her own thoughts with trading numbers similar to those of August and September 2020.
The above chart from Alan’s Master clearly shows an upward trend in the weekly timeframe. Stable and safe price trading is taking place above the EMA10 level of $ 390 as well as above the moving average. Volume signals remain low, advocating the consistency of the bullish phenomena.
Looking at the trend since March 2020, the price analyst highlights the ongoing price increase and names the ETH market and the upward cycle.
Relative Strength Index (RSI) is approaching a strong 70, the signal tends to hold much more power in the weekly timeframe than in the daily. 70 on the weekly RSI charts suggests a huge rally that is happening anytime given the structure of the chart.
Due to the strength of the Moving Average Convergence Divergence (MACD), there are many additional growth points to be seen in the graph.
The queen of cryptocurrency has been trading above EMA10 for 6 to 7 months and is also pointing to the upward movement of the situation.
The analyst concludes that with 100 percent bull mode, the rise in ETH price structures is clear. The possibility of a bearish trend is quite bleak and is only expected if price breaks around the $ 390 mark are observed. If you stay above that level, the cryptocurrency queen will see an ongoing bullish journey.
Price prediction chart for Ethereum by AtlasTrades
Top trading view analyst Atlas Trades confirms that after the previous resistance breakout at $ 450, the new resistance target is at $ 490. It also forecasts a strong rebound, after which it is strongly recommended to open a long position.