Just yesterday, I wrote how Ethereum had become the most popular crypto on Youtube. And today, it has again neared the $2200 price point as bulls overwhelm bears to push the price against the level. Bitcoin has also recovered along the way as the price has again surpassed the $60k price point. As the market gets more bullish every day, it is important to know which resistance levels are going to be key in Ethereum’s price rise.
Ethereum price prediction
The key resistance levels for Ethereum remain at $2400, $2500, and $2600 as the price continues to increase. Currently, the price is at $2190 after falling back from $2202 (the all-time high of ETH). Once the price of Ethereum crosses this price again and maintains ground, we can expect a solid increase towards the $2300 price point and eventually higher. The indicators and price all indicate a very bullish momentum for Ethereum. It is currently trading above the 9 and 21 days moving averages. If it can make it past $2200, we can also see a huge jump from these averages.
We have seen how consolidation at one price point can help in a swift price increase of a currency. So, if ETH stays at $2200 for much longer, then the movement to $2,300 and $2,400 will be really fast. Technical indicators show that if ETH is able to maintain an upside above $2100, it will ultimately break through the $2200 levels. But failing to do so could pull down the price to $2000 and even lower.
Ethereum’s future is bright!
Ethereum is the most popular altcoin and the 2nd largest cryptocurreny by market cap. And with the increased usage of the currency and the changes announced in the recent update have made investors more bullish about its future. It also has a lot more applications when you compare it to Bitcoin and many others altcoins. This has also led to a significant rise in the volume of Ethereum trading.
What is your take on the future price of Ethereum? And do you think it will break through today’s resistance? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.
Also Read: Revolut bank now supports 11 new cryptocurrencies.
