Ethereum Price Prediction: ETH/USD Finally Break Above $210 as It Hit New Month High

ETH Price Prediction – April 29

The price of Ethereum climbed higher today and settled above the main $210 barrier against the US Dollar.

ETH/USD Market

Key Levels:

Resistance levels: $240, $250, $260

Support levels: $172, $162, $152

ETHUSD – Daily Chart

Today, ETH/USD had a significant boost that allowed the coin to exceed the $200 resistance level, this momentum extending considerably as crypto continues to climb higher. The current performance of the coin indicates the addition of an upward movement since some weeks ago. It’s just a matter of time for this coin to reach $250 level in the nearest term.

In the last few days, Ethereum has moved from $170 to $209 and at the same time moving towards the upper boundary of the channel at the time of writing. The on-going trend may move a little bit higher before the week runs out, and the coin may likely reach the nearest resistance at $240, but if the bulls put more effort, it could hit additional resistance levels at $250 and $260 respectively.

However, a bearish drop may roll the market back below the 9-day and 21-day moving averages. Meanwhile, the support levels to watch for are $172, $162 and $152. As the trading volume increases, the RSI (14) is moving into the overbought zone and this could supply more bullish signals into the market.

When compared with Bitcoin, Ethereum is still trading below the 9-day moving average within the ascending channel and the price is changing hands at 2484 SAT as the RSI (14) moves below 60-level. However, the daily chart reveals that the market is still consolidating as the pair seems to break below the 21-day moving average.

ETHBTC – Daily Chart

Positively, the resistance levels to be reached are 2800 SAT and 2900 SAT. Conversely, a lower sustainable move may likely come into the market to attract new sellers with the next focus on 2200 SAT and 2100 SAT support levels.

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Remember, all trading carries risk. Past performance is no guarantee of future results.

Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.