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- 1 Ethereum Price Prediction suggests a rise in the long run and prices are likely to bounce back from support.
- 2 ETH Price faced rejection from $2000 and returned back to the 50-day EMA.
- 3 Ethereum crypto price sustained above the 200-day EMA showcases an uptrend.
Ethereum Price Prediction is bullish for the long term and suggests a 10% to 15% rise is possible if certain conditions are met. ETH crypto price sustained above the 200-day EMA showcase the trend is in an upward direction.
Ethereum Price seems to be stuck in the range between $1800.00 to $2000.00. It performed well in the past few months and attempted to break the $2000.00 hurdle. Sadly, the attempts failed and prices remain in range.
The buyers in ETH crypto trying to defend the 50-day EMA support to keep the short-term trend in an upward direction. However, the seller looks strong so more downside is possible.
In the mid of June, ETH price breakout of the $1800 hurdle with a strong buying volume. Later, slow and steady prices reached $2000 and created positive hope for the bulls.
Presently, the ETH Prices seem to be in the correction phase and might test $1800.00. Ethereum Price is trading at $1848 with an intraday decline of 2.12%. The 24-hour volume to market cap is 2.70%.
Will Ethereum Price bounce back or decline further?
Ethereum Price remains bullish for the long term till it sustains above $1600.00 support. ETH is a strong crypto and has dominance in the market. So, the downside looks limited. If the correction continues then the buyers are likely to absorb the sell-off at lower levels.
Till the ETH price sustains above $1600.00 the possibility of the bounce back remains high. However, the price will pick up momentum only after the breakout of the $2000.00 hurdle.
The technical analysis suggests, prices are inside the correction phase but it might take a halt near $1800.00.
Will ETH Price retrace 50% of a breakout?
ETH Price formed a bearish candle on the weekly time frame. It will retrace 50% of the previous breakout. ETH crypto formed a strong base near $1800 so the downside risk is low.
The MACD curve displayed a negative crossover and the histogram is also in a declining phase. It indicates mild bearishness. The RSI at 44 denotes weakness and might test the oversold territory.
Conclusion
Ethereum Price Prediction is bullish for the long term but the prices will gain momentum after the breakout of the $2000 hurdle. The technical analysis suggests correction in ETH Price might take a halt near $1800.00.
Technical levels
- Resistance levels: $2000.00 and $2144.00
- Support levels: $1800.00 and $1600.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
