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- 1 Ethereum price prediction is bullish for the next few months.
- 2 ETH price formed a strong base near $1500.
- 3 Ethereum crypto price is trying to climb above the 50-day EMA.
Ethereum price prediction favors the bulls and suggests a significant rise is possible in the coming months. ETH price has consolidated for a quite long time in a narrow range between $1520.00 to $1700.00. It might be an indication of the long-term base formation.
Ethereum crypto price is trying to climb above the 50-day EMA hurdle to reverse the short-term trend. If the buyers succeed then prices might begin the journey to reach the 200-day EMA.
ETH crypto price is taking support near to $1550.00 and buyers are trying their best to rebound. Buyers are highly active near the demand zone so the possibility of the downside is low. The buying volume is on the rise but prices are still inside the range. It indicates that some crypto whales are accumulating the ETH at a cheaper price.
ETH is the second big crypto in terms of market capitalization. So many big and prominent investors are keeping track of it. If the crypto market begins to perform then more ETH will be one of the initial gainers to participate in the rally.
Ethereum price is trading at $1659.35 with an intraday rise of 0.38%. The 24-hour volume to market cap is 3.19%.
Ethereum Price Analysis: Bulls Are Back to Track?
Ethereum price prediction is bullish and suggests an outperformance in the coming months. The buyers are getting active and seem to be preparing for the massive rally.
On the higher side, $1478 is an immediate hurdle for the bulls. In the coming few weeks, if buyers are able to break out of this $1478 hurdle then we might see a sharp rise toward $1800.
On the other hand, if the ETH crypto price faces rejection from $1478 then prices might spend some more time into the existing range.
ETH Price is Forming a Bullish Reversal Pattern
ETH price is forming a bullish reversal pattern. After a long consolidation, some strong signs of recovery are visible. The buyers of Ethereum will gain more confidence if prices sustain above the 50-day EMA.
The MACD curve is reversing upward and the histogram bar is green showing the presence of buyers. If ETH crypto continues to recover the MACH might break the zero-line hurdle. The RSI at 60 slopes upward denotes the strength of bulls and more upside is possible.
Conclusion
Ethereum price prediction is bullish for the short term as well as for the long term. ETH price consolidated in a narrow range and formed a strong base. Therefore, the analysis suggests that bulls are active and ETH crypto price may reach $1800 by November end.
Technical levels
- Resistance levels: $1748.00 and $1879.00
- Support levels: $1580.00 and $1520.00
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
