This content has been archived. It may no longer be relevant.
Ethereum has seen a price increase in the past couple of weeks. The second-biggest crypto is currently trading above $2,200.
ETH has registered a 17.12% increase in the past month. Now, the crypto is comfortably above the $2,100 support level against the dollar. Ethereum has a high of $2,274, and its value is currently consolidating gains.
The crypto is testing the 23.6% Fib retracement level between $1,986 and $2,274. With a 55 simple moving average (4 hours), Ethereum is indicating positive signs above $2,150.
Advertisement
The sudden boost took place due to market sentiment becoming optimistic about crypto. Almost every notable crypto is gaining value, and as the second-biggest crypto, Ethereum is riding the wave comfortably.
Its newly formed market stance has enticed traders to reassess their portfolios using a precise Ethereum prediction. Experts observe an imminent resistance level being established at $2,275 in front of Ethereum.
The crypto faces a major resistance level at $2,350. A comfortable dash ahead of this level will put ETH around the $2,450 level. The next resistance zones ahead of Ethereum will be $2,500 and $2,550.
Contrarily, its nearest support level is also $2,200. After that, Ethereum relies on the $2,150 level, or the trend line. It means that the crypto is near the 50% Fib retracement level, which can push Ethereum to test $2,050.
A dip below this level can push Ethereum to $2,000. Any more dip than that would mean ETH would be trading around $1,920. The 4-hour MACD for ETH-USD is gaining swift momentum, putting it in the bullish zone.
Advertisement
Ethereum can soon go past the $2,275 and $2,350 resistance levels if the trend keeps up.
