Ethereum price prediction: retraces to $379 after fall

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Ethereum was seen trading with a high fluctuation rate within the 24-hour price chart; the coin varied between the $377 to $385 price range. While the lowest price point during the last 24-hours was observed at the $370 mark. Although the price volatility for Ethereum was observed to be relatively low, the cryptocurrency’s graph can … Read more

Ethereum was seen trading with a high fluctuation rate within the 24-hour price chart; the coin varied between the $377 to $385 price range. While the lowest price point during the last 24-hours was observed at the $370 mark.

Although the price volatility for Ethereum was observed to be relatively low, the cryptocurrency’s graph can be seen depicting jagged edges over the 24-hour trade. The highest point reached 387.63 at 14:04 GMT. Though at the time of writing, the altcoin was priced at $377.18.

Ethereum price prediction: Where is ETH headed?

Cryptocurrency analysis group AtlasTrades states that they’re waiting for the prices to reach a support point. If ETH pulls back and starts growing, it will be a good chance to open a long position. They further state that resistance (390.00) can be a desirable target.

Renowned cryptocurrency analysis, VincePrince states in his Ethereum price prediction that Ethereum now manages to bounce in the blue back-up-cluster. It is strong enough to move on to higher levels, which can finally confirm a bullish pace; considering this scenario, it is highly essential that this Altcoin stays above the support and does not fall below it again because this can invalidate the bullish scenario.

Considering this, when the altcoin will manage to move higher, it needs to bounce above the upper boundary and confirm the neutral zone marked in orange in the chart where a bounce back is possible, leading to the final confirmation bullish area marked in green. These steps are required for Ethereum to show up with confirming bullishness further, and when it does, there are some substantial potentials given for further rising. He also feels that it will be interesting to see how this may develop.

In other Ethereum price prediction analyses, analyst Solldy expects that the price will continue to rise and reach the upper resistance line. He also explains that the price bounced off the intersection of two support lines and began to grow. While YMGroup explains that the altcoin should fasten its seat belts, it is ready to go higher as the price falls to the support zone after an uptrend. Prices can make new uptrends and reach resistance levels.

Is Ethereum stronger than Bitcoin?

An analysis by M Duchow explains that in recent charts Ethereum is looking stronger than Bitcoin for the potential of short-term upside. The altcoin has done a decent job maintaining support and he’s surprised how strongly it has moved in terms of momentum. As long as support within the green channel is held, as well as support in the Bullish Control Zone is held for momentum, there is potentially a counter-trend long opportunity setting up.

He furthers that If all of that criteria is met, his primary target would be $416. There is potential to reach up to a maximum of 1,618, but this is incredibly unlikely. Cautious trading is advised as always.

Disclaimer. The information provided is not trading advice. newcoint.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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