ETH/USD Trades at $1326; Price May Rebound

The Ethereum price prediction reveals that ETH is currently trading above $1300 after crossing above the moving averages.

Ethereum (ETH) Statistics Data:

• Ethereum price now – $1,326.83
• Ethereum market cap – $162.2 billion
• Ethereum circulating supply – 122.3 million
• Ethereum total supply – 122.3 million
• Ethereum Coinmarketcap ranking – #2

ETH/USD Market

Key Levels:

Resistance levels: $1700, $1800, $1900

Support levels: $1100, $1000, $900

ETH/USD is trading at $1,326 where a bearish momentum is building, but the technical indicator Relative Strength Index (14) shows that the bearish movement may be coming close as the signal line is moving below the 50-level. However, the 9-day and 21-day moving averages indicate that bears are still having the ability to control the market as the 9-day MA remains below 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 toward the upside. Therefore, a sustainable move from this barrier may improve the bullish movement and allow for an extended recovery toward the resistance level of $1400. However, if the coin stays above this level, it could negate the bearish scenario and bring the nearest resistance of $1700, $1800, and $1900 levels into play.

Nevertheless, the RSI (14) on the daily chart may remain below the 50-level, but a failure to drop more could worsen the technical picture and lay the ground for further sell-off towards the lower boundary of the channel. Any further bearish movement could locate the supports at $1100, $1000, and $900 respectively.

Against Bitcoin, Ethereum (ETH) is trading slightly above the 9-day and 21-day moving averages, but the sellers are likely to step back into the market. At the moment, ETH/BTC is trading at 6784 SAT, and the bulls are yet to push the price toward the upper boundary of the channel. On the other hand, if the market drops below the lower boundary of the channel, the next key support may come at 6000 SAT and below.

However, on the upside, if the coin heads toward the upside, the resistance level of 7800 SAT and above could be visited. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross below the 40-level, suggesting that the market may begin to go down.

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