ETH price prediction: ETH breaks $2,550, continues moving towards new highs
3 min readTable of Contents
TL;DR Breakdown
- ETH breaks $2,550, continues further.
- The next price target at $2,600 already reached.
- Closest major support at $2,400.
Today’s ETH price prediction is bullish as the market continues rallying after establishing a new higher high above the $2,550 mark. The $2,600 target has already been reached, meaning that we could see the market push towards $2,700 later today.
The overall crypto market still trades with mixed results. The market leader still trades around the $55,000 mark, down by 1.7 percent. Meanwhile, ETH continues gaining ground over the past hours with almost 8 percent gain. Litecoin and Chainlink also have performed great so far today, with gains of nearly 5 percent for both.
ETH price prediction: ETH ETH breaks $2,550, continues moving towards new highs
ETH/USD opened at $2,357 after attempting to move both to the upside and downside with rejections and closing with a small gain yesterday. After a higher low was established above the $2,300 support overnight, ETH started rapidly gaining ground until the $2,550 resistance was broken in a clear way. Currently, the ETH price action continues moving higher and we expect the next price target at $2,700 to be reached by the end of today.
ETH price movement in the last 24 hours
The ETH/USD price moved in a range of $2,321 – $2,631, indicating a good amount of volatility. Trading volume has increased by 16.89 percent over the last 24 hours and totals $47.6 billion. Meanwhile, the total market cap trades at $304.8 billion, indicating a market dominance of 14.76 percent.
ETH/USD 4-hour chart – ETH resumed to push higher today
On the 4-hour chart, we can see ETH continuing to push higher after breaking above the previous all-time high at the $2,550 mark.
Overall, ETH has maintained its several week bullish momentum over the past few days. After establishing clear support around $2,040 and retesting twice, the market started pushing higher on Tuesday.
Two higher highs and lows were set. First high being set at $2,350 and the second at $2,475. Overnight the ETH price action retraced and established a higher low just above the $2,300 mark. From there, the market has continued trading higher without any significant disruption, with a gain of almost 14 percent.
As of now, there are no clear signs of a trend slowdown. Therefore, ETH should reach the next price target at $2,700 later today. Once it is reached, we could see the market set another retracement. The first obvious support level is seen at the $2,550 previous all-time high resistance, which would now act as a support. If the $2,550 fails to hold, ETH/USD will likely move towards the next support area around $2,400-$2,450.
Therefore, we remain bullish for ETH both short-term and medium-term as the bullish momentum seen over the past weeks has resumed with even stronger bullish price momentum than before.
ETH Price Prediction: Conclusion
ETH price prediction is bullish as the market continues moving higher towards the next price target at $2,700. If a sharp rejection is seen, we could see another retracement that sets a higher low, with the first obvious support being the previous all-time high resistance at $2,550.
While waiting for further ETH price action development, see our free ETH and ETH gas price guide. To learn more about the future of ETH, see our long-term ETH price prediction.
Disclaimer. The information provided is not trading advice. Cryptopolitan.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.
