Resistance levels: $2800, $3000, $3200
Support levels: $1600, $1400, $1200
ETH/USD is hovering above $2300 as the coin prepares to gain more bullish signals. The movement to the upside has not allowed the market to bow to the selling activity under $2000 early this morning. At the moment, Ethereum (ETH) is trading towards the 9-day moving average.
Ethereum Price Prediction: Would ETH Price Move Above $2500?
At the time of writing, the Ethereum price heads to the upside as the coin hits the daily high at $2458. Looking at the daily chart, the $2000 remains to be a key support zone and if it is broken, the sell-off may be extended towards the $1800 support level. Currently, the price of the coin is changing hands at the $2339 level and the bulls are making effort.
In other words, any reversal below the lower boundary of the channel may welcome the bears back into the market and the price could meet the critical supports at $1600, $1400, and $1200. More so, the technical indicator Relative Strength Index (14) is moving above the 30-level which indicates the continuation of the bullish trends and further resistance could be found at the $2800, $3000, and $3200 levels.
Against BTC, the daily chart shows that Ethereum’s price is trading well in a strong uptrend around 0.075 BTC. As soon as the price stays above the 9-day and 21-day moving averages, there is a possibility that additional bullish movement in the long term. If the price keeps rising, it could even break the 0.080 BTC and above in future sessions.
Meanwhile, if the bears regroup now, the 0.073 BTC and 0.071 BTC supports may play out before rolling to 0.070 BTC and below, this may create a new low for the pair. At the moment, the daily outlook is still bullish as the Relative Strength Index (14) moves close to 60-level to suggest more bullish signals.
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