Ethereum price analysis shows an uptrend in the ETH market, with buyers pushing above the psychological $1,900 level. The ETH/USD pair opened today’s session at $1,837 with a minimal surge, however later then it rose steadily to the current trading level at $1,948, with a strong surge of more than 7 percent in the past 24 hours.
The bearish pressure that was seen in the ETH market seems to have weakened for now, as buyers remain dominant. Ethereum price analysis also shows that ETH has been trading within a wide range of $1,800 and $1,900 in the past 24 hours. The ETH/USD pair has managed to break above the level of $1,900 and is now trading at a higher high. The bulls need to extend their gains in order to break past the resistance level of $1,962. If buyers manage to do that then we could expect further upside momentum with the next focus levels of $2,000 and beyond.
Ethereum price analysis 24-hour chart: ETH price glides smoothly toward its next target
The one-day Ethereum price analysis is indicating that an uptrend has been at its peak for the past few hours. An improvement in price has been recorded in the last 24 hours as well as the price successfully reached the $1,948 position. Although the price fell abruptly in the previous session, it has managed to recover due to a strong and consistent bullish trend.
The market capitalization for Ethereum has grown to $234 billion, with a gain of 7.21 percent in the last 24 hours. The trading volume of Ethereum is at $11.4 billion, and its dominance stands currently at 19.1 percent indicating a strong bullish trend in the crypto market. The 20-EMA is showing a bullish trend as it has crossed the 50-EMA on the 24-hour chart and is heading towards a higher level. This indicates that buyers are in control of the ETH market at present and could take it to its next target of $2,000 in the coming few hours.
The RSI indicator is also currently above 50 which suggests that the current market momentum is in favor of buyers. The Bollinger bands are wide, indicating increasing volatility in the ETH market. The upper Bollinger band has been breached by buyers, while the lower Bollinger band is still being held. This suggests that more upside movements are expected in the market.
Ethereum price analysis: ETH experiences an uptrend at $1,948 after a bullish return
The hourly Ethereum price analysis has headed down once again as the Bulls made an ascend in the last four hours. The BTC/USD value increased to $1,948 after the green candlesticks reappeared on the price chart. The market has made a bullish return after the price went down drastically and the bulls entered back into the market.
The price is still above the moving average value at $1,893 which is a positive sign. The 50-day moving average value has also been breached, which indicates that the market is in a strong uptrend. The Bollinger Bands have widened from their normal range due to the increase in volatility. The upper Bollinger Band is currently at $1,934 while the lower band is at $1,783 which suggests that more upside movements can be expected in the market. The Stochastic RSI indicator has also increased and is currently above 65.97 which indicates that buyers are firmly in control of the BTC market at present.
Ethereum price analysis conclusion
Overall, Ethereum price analysis has seen a strong surge in price over the past few hours, and it appears that this momentum is likely to continue in the near term. The coin is currently trading near its resistance level, but if it breaks through this level, we could see further gains soon. The technical indicators are all pointing toward the bulls, which suggests that the ETH market is likely to remain bullish in the short term.
While waiting for Ethereum to move further, see our Price Predictions on XDC, Cardano, and Curve.
