ETH price prediction: Euphoric ETH/USD bulls target $2,321 next
3 min readTL;DR
- Bullish ETH price prediction supports an extended bull run
- ETH/USD trades above most simple moving averages, giving jitters to sellers
- Uptrend targets new higher levels past $1,950
Euphoria is slowly building up in the ETH/USD pair with bulls targeting fresh new high levels. The ETH pair is gradually ascending to upper end of the piercing price channel and continues the Monday’s uptrend. The overstretched Bollinger Bands are stretching to accommodate larger ascending candlesticks.
Currently, the ETH/USD is trading near $1,910. The newly formed symmetrical triangle adds more bullish vibes adding more confidence in the buyers. No wonder the long positions are on the rise across many exchanges. However, the below-average volume figures may play a dampener. The technical indicators are heating up that may trigger a short-term correction, but it may not last long. The overall enthusiasm in the crypto market may fuel another bullish ETH price prediction.
ETH price movement in the last 24 hours: A confident uptrend emerges
Participants saw the ETH prices rise by 11 percent since Monday. The buyers are ruling the charts and it went from $1,680 lows to the current $1,887. The optimism from BTC is reverberating here as well. It is moving in sync with the flagship BTC/USD pair with constructive candlestick patterns.
Earlier today, ETH felt minute resistance near $1,855, but bulls handled it well. The declining trendline has now turned relatively positive and trading above the 20-day SMA. The ascending symmetrical triangle shows challenge at $1,944. However, traders are moving towards $2,040 all-time peak.
Even though the current movement is somewhat parabolic, market players should anticipate zig-zag movement as the week moves ahead. The back-and-forth movements can challenge the higher and lower extremes of the Bollinger Bands.
ETH/USD 4-hour chart: Fresh peaks beckon the pair
Highly optimistic ETH price prediction is bringing fresh peaks into the charts. Traders who have buy positions should consider the $2,321 price range. It is the 1.382 percent Fibonacci extension and an apt short-term target in the next few days. Analysts are also considering the $2,500 range that will emerge after the bullish breakout.
A moderately bullish scenario points towards ETH/USD touching $1,950. Most technical indicators are all flashing buy signals, and bulls are piling up buy orders. The take profit behavior hasn’t yet been noticed. At press time, ETH bulls were fully in charge and were pushing the price towards the $1,950 resistance.
Understandably, ETH is in coherence with BTC/USD, which is also pushing through minor resistances. The last week’s stagnation has once again translated into accumulation which is not materializing into a solid bull run. The price movement is pushing upwards which is also accentuated by RSI, which is showing a reading of 70. The MACD indicator is also pointing up with no sign of a bearish crossover anytime soon.
ETH price prediction conclusion: Bulls confidently target $2,100 next
ETH has quickly transformed the minor pullback into another buying phase. The bulls have loaded up more ETH/USD pair near the $1,710 support level. The depreciation was a temporary phenomenon as the pair has gained close to 11 percent in the last three days.
Oddly enough, ETH price prediction still has no signs of slowing down. The reason for such an elongated bull run is that technical indicators remain at elevated levels during an extended bull rally fueled by liquidity. The Parabolic SAR is still below the candles, signifying more fuel in this rally before any cooling overtakes the price action in ETH price prediction.
On the lower side, the 50 percent Fibonacci level at $1,750 will offer ample support. The bearish ETH price prediction expired when the pair crossed $1,920 confidently. The renewd optimism is reflecting on the volumes where the bars are rising gradually. For now, the bulls are in charge, and targeting higher levels beyond peaks of $2,040.
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.
