ETH Trades at $1735; Price Set to Rebound

The Ethereum price prediction reveals that ETH is currently trading above $1700 after a significant dip towards $1500.

Ethereum Prediction Statistics Data:

• Ethereum price now – $1735
• Ethereum market cap – $210 billion
• Ethereum circulating supply – 121.7 million
• Ethereum total supply – 121.7 million
• Ethereum Coinmarketcap ranking – #2

ETH/USD Market

Key Levels:

Resistance levels: $2600, $2800, $3000

Support levels: $1000, $800, $600

ETH/USD is trading at $1738 where the coin is likely to cross above the upper boundary of the channel, but the technical indicator Relative Strength Index (14) shows that the bullish movement may be coming close as the signal line is likely to cross into the overbought region. However, the 9-day and 21-day moving averages indicate that bulls are still having the ability to control the market as the 9-day MA remains above the 21-day MA.

Ethereum Price Prediction: What to Expect from Ethereum

As the Ethereum price is hovering above the 9-day and 21-day moving averages within the channel, the coin is likely to embark on a movement towards the upside. However, a sustainable move from this barrier may improve the bullish movement and allow for an extended recovery towards the resistance level of $1800. However, if the coin stays above this level could bring the nearest resistance of $2600, $2800, and $3000 levels into play.

Nevertheless, the technical indicator Relative Strength Index (14) on the daily chart may slide to the negative side, a further sell-off below the moving averages could bring the coin to the support level of $1500. Any further bearish movement could locate the supports at $1000, $800, and $600 respectively.

Against Bitcoin, ETH/BTC is trading above the moving averages as the bulls are likely to step back into the market. Now, the Ethereum price is trading at 7226 SAT as the bulls could push the price to cross above the channel. On the other hand, if the market drops below the 9-day moving average, the next key support may come at 6000 SAT and below.

However, on the upside, if the coin crosses above the channel, the resistance level of 8500 SAT and above may be visited. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross into the overbought region, suggesting that the market may go up.

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