Ethereum price analysis shows a bullish outlook for the cryptocurrency, with bulls looking to break past the all-time high of $2,100. The bullish momentum is strong and the prices of Ethereum are expected to continue rising. The ETH/USD is currently at $2,105 and is currently supported by strong buying activity.
Currently, ETH is targeting the $2,200 level, with a surge increase of 2.5 percent, and is approaching it quickly. If the current trend persists, then Ethereum could soon hit an all-time high of $2,200. The resistance is seen at $2,109 and if the bulls can break past this level, then the price of Ethereum could surge further. The support is seen at $2,062, which was previous level for ETH when bears controlled the market.
Ethereum price analysis 24-hour chart: ETH gains momentum at $2,105
On the 24-hour chart, Ethereum price analysis reveals that ETH is trading in a bullish channel and is currently on an upward trajectory. The bulls have managed to break past the support level of $2,098 and are now targeting $2,200. The momentum indicator shows that buying pressure has been strong over the last 24 hours and this is likely to continue as ETH looks to reach its all-time high. The market capitalization of Ethereum is currently at $251 billion, with a surge of 0.61 percent over the last 24 hours. However, the total trading volume of ETH is at $61 billion, with a decrease of 2.16 percent over the same time period.
The technical indicators for Ethereum price analysis show that the bulls are in control.The Bollinger bands on the daily chart are indicating a bullish trend as the bands move away from each other. The upper Bollinger band is currently at $2,148, while the lower Bollinger band is currently at $1,701. The relative strength index (RSI) is also in bullish territory and is currently at 70.21, indicating an overbought market. The moving average indicator is present at $2,025, indicating strong support for the cryptocurrency.
Ethereum price analysis: Recent developments and further technical indications
The 4-hour Ethereum price analysis shows that the price function has been following an upward trend for the last 4 hours, as bulls took charge later yesterday. ETH was on a downtrend in some hours of yesterday’s trading session, however, the bulls managed to reverse the trend and pushed Ethereum past $2,100.
The volatily is high for Ethereum price analysis, and with increased demand from institutional investors and other big players in the market, ETH could soon hit its all-time high. The Bollinger bands are expanding, with the upper Bollinger band at $2,119 and the lower one at $2,069. The relative strength index (RSI) is currently in bullish territory and is at 61.73, indicating an overbought market.
Ethereum price analysis conclusion
The Ethereum price analysis suggests that the coin is in bullish momentum after yesterday’s correction, though the next resistance at $2,109 may present a selling opportunity for investors. The technical indicators also support the bullish trend in the short term, with room for further buying pressure. The buying activity is strong and ETH could soon hit it’s all-time weekly high of $2,200, if bullish momentum continues. Investors should keep an eye out for any sudden moves in the market, as such movements could affect the price of Ethereum significantly.
