Will ETH Make A New All-Time-High?

Ethereum price prediction suggests that the price is trading above the key moving averages, trading in the bullish momentum. The candles are making higher high structures and maintaining the bullish momentum on the daily technical chart.

Ethereum is currently trading at the level of $3062.3 with a price drop of 1.61% with a trading volume of 13.49 Billion. The current market cap of the ETH is $372.64 Billion.

The performance of the coin has been outstanding throughout the year as it gave a return of approximately 94.54% over the year and a 35.90% return year to date. It gave a return of 79.35% in the previous 6 months, and in the last 3 months, it gave a return of 52.95%.

As per the technical data on TradingView, out of 26 indicators, 4 are on the sell side, 6 are on the neutral side, while16 are on the buying side highlighting an extremely bullish perspective.

What Will be the Direction of Ethereum Price in the Next Few Trading Sessions?

The price at the moment is facing rejection from the channel’s upper trendline, suggesting that the bears are trying to pull the price down.

If the ETH price fails to surge above the current levels, it might enter a fresh decline and might touch the 20-Day EMA level in the next few sessions. However, the possibility of this is low because the buyers are accumulating the crypto at lower levels.

The ETH price is still trading above the 50, 100, and 200-Day EMAs. If the price breaks the 20 EMA, it might touch the level of $3,000 and that is also a psychological level.

The MACD is trading in the bullish zone heading in the upward direction, green bars are noticed in the chart showcasing bullishness. The RSI is hovering at the level of 71.88 above the 14-SMA curve, demonstrating the bullish outlook for the price.

Overall, the key indicators including the EMAs, MACD, and RSI are giving bullish perspectives, but the investors should wait for the proper direction of the price for the next move.

Summary

The Ethereum price prediction demonstrates a bullishness on the daily time frame. The key indicators like MACD, RSI, and EMAs are indicating bullish signs of crypto. However, the investors and traders should avoid FOMO and wait for the proper setup for the further move.

Technical Levels

Support: $3000

Resistance: $3200

Disclaimer

The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.