ETH Price Could Break Above $3000

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The Ethereum price prediction shows that ETH could be ready for the uptrend, and it may fundamentally break above $3000 respectively.

ETH/USD Market

Key Levels:

Resistance levels: $3400, $3600, $3800

Support levels: $2400, $2200, $2000

ETHUSD – Daily Chart

ETH/USD is likely to cross above the 9-day and 21-day moving averages to increase the bullish movement. Meanwhile, the second-largest cryptocurrency might kick-start another bullish run back above $3000 if the market price crosses above the upper boundary of the channel. Consequently, any positive break above this barrier is the first signal needed for a bullish to press higher. Nevertheless, ETH/USD has to break beyond $3000 before hitting the $3200 resistance level.

Ethereum Price Prediction: Ethereum (ETH) May Spike to the Upside

Looking at the daily chart, the Ethereum price aims to cross above the 21-day moving average. If the buyers continue to grind higher, the first resistance level may be located at $3000 as this could also be followed by $3200. However, additional resistance levels may also be found at $3400, $3600, and $3800 respectively. On the other side, if the Ethereum price moves below the lower boundary of the channel, it could hit the first support level at $2800.

However, sliding below the lower boundary of the channel may lead the coin to the critical support levels at $2400, $2200, and $2000. Meanwhile, the technical indicator Relative Strength Index (14) makes a quick turn towards the 50-level, which indicates that buyers may begin to gain control of the market, and this, could also mean that another signal of ETH could be pushing back towards $3200 soon.

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When compared with Bitcoin, the daily chart shows that the Ethereum price is attempting to cross above the 9-day and 21-day moving averages around the 7362 SAT. However, as soon as the price crosses above the channel, there is a possibility that additional gains could be obtained. Therefore, the next resistance level above this barrier is close to the 8000 SAT level. If the price keeps rising, it could even break the 8200 SAT and above in the next positive move.

ETHBTC – Daily Chart

However, if the bears regroup and stay below the moving averages, 7200 SAT and 7000 SAT supports may play out before rolling to the critical support at 6700 SAT and below. The Relative Strength Index (14) is crossing below 50-level, suggesting downward movement.

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