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ETH Trades Around $1600; Tamadoge Keeps Ascending

ETH Trades Around $1600; Tamadoge Keeps Ascending
ETH Trades Around $1600; Tamadoge Keeps Ascending

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The Ethereum price prediction shows that ETH is still struggling to stay above $1650 as the entire market ranges.

Ethereum Prediction Statistics Data:

  • Ethereum price now – $1635
  • Ethereum market cap – $200.1 billion
  • Ethereum circulating supply – 122 million
  • Ethereum total supply – 122 million
  • Ethereum Coinmarketcap ranking – #2

ETH/USD Market

Key Levels:

Resistance levels: $2800, $3000, $3200

Support levels: $650, $450, $250

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ETH/USD is currently recovering above $1600, and it is likely to climb above $1700 soon. Ethereum has been moving sideways for the past few days as bulls are likely to come into the market. The coin remains at $1635.29 with the nearest support level located at $1500 in the short term.

Ethereum (ETH) May Keep Ranging as Tamadoge (TAMA) Increases

If the Ethereum price break above the 9-day and 21-day moving averages, it could hit an important resistance at $1700. However, a successful break above the upper boundary of the channel could open the doors for a fresh increase above the $2200 level. In the mentioned case, the Ethereum price could rise towards the $2800, $3000, and $3200 resistance levels in the coming sessions.

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Moreover, the technical indicator Relative Strength Index (14) is moving below the 50-level. Therefore, if there is a bearish break towards the lower boundary of the channel, ETH/USD could test the critical support at $1400. The next major support is near $1000, where the bulls are likely to take a strong stand. Any further losses could lead the price towards the $650, $450, and $250 support levels.

Against Bitcoin, the Ethereum price is below the 9-day and 21-day moving averages as the market moves averagely. Meanwhile, the technical indicator Relative Strength Index (14) is moving to cross above the 60-level, a bullish movement confirmation.

However, if the price breaks above the moving averages, bulls might push the market back to the 8000 SAT towards the upper channel. Moreover, if the price stays above this barrier, traders may expect an immediate resistance at 9500 SAT and above. On the other hand, sliding towards the lower boundary of the channel may locate the support level at 6000 SAT and below.

ETHBTC – Daily Chart

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