Ethereum (ETH) price is poised to break above the 9-day moving average after a quick retracement in the channel.
Ethereum forecast statistics information:
- Ethereum price now – 1329 dollars
- Ethereum market value – 162.6 billion dollars
- Ethereum transfer supply – 122.5 million
- Total supply of Ethereum – 122.5 million
- Ethereum Coinmarketcap Rank – #2
ETH/USD market
Key steps:
Resistance levels: $1800, $2000, $2200
Support levels: $900, $700, $500
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ETH/USD is currently recovering above the opening price of $1294 and may soon rise above $1400. Meanwhile, Ethereum price is now trading above the 9-day moving average as the bulls may start to dominate the market.
When Tamadoge goes up, the price of Ethereum can reach $1500.
Ethereum price may cross above the 9-day and 21-day moving averages. If ETH/USD breaks to the upper border of the channel, it may visit an important resistance at $1500. However, a successful break above this level could open another rally above the $1600 level. The price may increase to $1800, $2000 and $2200 resistance levels in the next positive direction.
When the relative strength of the technical indicator (14) is hovering around the 40-level, it means that the market may soon break higher, but a break below this level may cause the coin to cross below the lower boundary of the channel. To focus, ETH/USD can touch the recent support at $1200 support. The next major support is below the lower border of the channel, where the bulls can hold a strong position but further losses will lead the price towards the $900, $700 and $500 support levels.
Compared to Bitcoin, the price of Ethereum is now moving above its 9-day moving average as the market undergoes volatile changes. A cross above the 21-day moving average is necessary before moving to the upper border of the channel. Meanwhile, the technical indicator relative strength indicator (14) appears to move within the 40-level, a confirmation of bullish activity.
However, if the price breaks above the 21-day moving average, bulls may push the market closer to the 8000 SAT resistance level. Moreover, if the price continues above this level, traders can expect a quick resistance at 9000 SAT and above. On the other hand, a break below the lower bound may find the support level at 6000 SAT and below.
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