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- 1 Ethereum price prediction highlights the bullishness in the price on the daily technical chart.
- 2 ETH price is trading above the key moving averages.
- 3 The crypto is bullish, recording over 15.97% returns this week.
Ethereum price prediction demonstrates a bullish rally on the daily technical chart. The price chart shows a phenomenal surge of approximately 15.97% this week and the technicals are also giving a strong buy signal.
The performance of the ETH is outstanding this year as the crypto gave a phenomenal return of 82.63% over last year. Since the beginning of the year, ETH has given returns of 20.56%, and it gained by almost 63.63% in the last 6 months. In the past 3 months, ETH grew by almost 33%, and this week the price showed an upside rally of approximately 15.97%.
Ethereum is currently trading at the level of $2743.3 with an intraday gain of almost 3.83% with a 24-hour trading volume of $21.29 Billion. The current market capitalization of the crypto is $330.62 Billion and has a total circulating supply of 120.17 Million ETH.
As per the technical summary on TradingView, out of 26 indicators, 0 are on the sell side, 10 are on the neutral side and 16 are on the buy side. The technicals are demonstrating extreme bullishness.
Technical Analysis of Ethereum On Daily Technical Chart
At the time of publishing, Ethereum crypto (USD: ETH) is trading below the 50 and 200-Day EMAs (exponential moving averages), which are supporting the price trend.
The current value of RSI is 76.27 points. The 14 SMA is above the median line at 58.25 points, indicating that the Ethereum crypto is bearish.
The MACD line at 7.97 and the signal line at 9.35 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the ETH crypto price. However, if buying volume adds up, then the price might conquer new levels and new highs on the daily technical chart.
Summary
Ethereum (USD: ETH) technicals and price action support the bullish trend. The MACD, RSI, and EMA are emphasizing positive indications and suggest that the positive trend may continue in the ETH crypto price. Moreover, Ethereum crypto could touch all-time high if it gets the desired support from buyers.
Technical Levels
Support Levels: $2377.5 and $2255.1
Resistance Levels: $2800 and $3000
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
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.
