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- 1 Ethereum crypto price is at a 52-week high and the bulls are dominating.
- 2 The 24-hour trading volume of Ethereum has surged by 50%.
Ethereum crypto price has been in a strong bullish trend since November with a rise of 65% till now. It has displayed a directional move and has risen by forming higher highs and higher lows.
For the past two months, the buyers have won the battle to defend the $2200 hurdle. Since the first week of this month, ETH price has witnessed a one-directional move and has jumped by 31.52% in the last three weeks.
RSI is at 74 which showcases the bullish momentum and is heading toward the overbought zone. Ethereum crypto price is trading far over the significant moving average indicating bullish dominance.
Ethereum price is trading at $2920.02 with an intraday loss of 0.82%. The market capitalization of Ethereum is $351.24 Billion. It ranks 2nd in the cryptocurrency market in terms of market cap. The trading volume is $19.71 Billion which is down 50% in the last 24 hours.
Ethereum Price Prediction; Technical Analysis of ETH Over Daily Timeframe
As per the technical chart, the Ethereum crypto price has been in a bullish trend. It registered a 52-week high of $3003.00 on February 20, 2024. ETH price has been on a one-directional track for a long time and is currently at the round-figure mark of $3000.
Here, buyers and investors may prefer to book profit and wait for the pullback because, at the same time, BTC has been consolidating for the last six days and has been unable to surpass the $52000 level. Buyers may not feel confident if the price continues the one-directional trend and surpasses the $3000 mark.
If ETH faces resistance from the $3000 mark, falls to the $2800 level, and defends this level by forming any bullish candlestick, buyers may become confident about the pullback and may lead the recent trend.
On the other hand, if the Ethereum price falls and fails to defend the $3000 level, it may easily melt to the $2600 mark. If ETH falls to the $2600 mark and a buying signal is generated, it may remain bullish for the next few weeks. But if the price slips below the $2600 mark and sustains, a bearish trend can be expected and investors may lose the previous gains.
Ethereum Price Prediction FAQs
What is the ETH price prediction today?
Ethereum crypto price is predicted to drop 0.64% to reach $2924.85 by today.
What is the ETH price forecast for tomorrow?
Based on our analysis, the Ethereum price is forecasted to drop by 1.50% to reach $2884.34 by tomorrow.
What is the current Ethereum price sentiment?
The current ETH price prediction sentiment is extremely bullish according to our technical analysis.
What is the ETH price forecast for this week?
As per the price action, the ETH price is facing resistance from the round-figure level and a pullback is expected. So it is predicted to range between $3000 and $2834.52 by the end of this week.
Summary
Ethereum crypto price has been witnessing a strong bullish trend for the last few months and is currently at a 52-week high. It is up by 65% in the past three months, showcasing a bullish grip. ETH price has stretched a lot in one direction and a brief halt is expected.
Technical Levels
Resistance: $3000.00 & $3500
Support: $2800 & $2600
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
