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Ethereum Price Prediction – ETH/USD Makes a Quick Return to $177

ETH Price Prediction – April 19

The price to buy Ethereum surges from $189 to $177 within a day but it may move past $180 in the coming week

ETH/USD Market

Key Levels:

Resistance levels: $220, $230, $240

Support levels: $140, $130 $120

ETHUSD – Daily Chart

ETH/USD saw a small price decline today and it is currently trading at $180.61. The cryptocurrency continues to be supported at the $180 level but it seems that the bears are adamant to push the coin lower. More so, Ethereum has lost over 3.30% within 24 hours.

In addition, ETH/USD keeps trending in red within the channel formation, trading above the 9-day and 21-day moving averages. Today, after the opening of the market, the daily price chart shows that ETH/USD also fell from $189.82 to $176.96, where it found short-term support and later bounced up to $180.61, where it is currently trading.

Moreover, for a backward movement, the market can be supported at $140 and $150 levels, if the price falls below the previous levels; another support is around $140. But should in case the price exceeds the indicated level by moving upward, then, the resistance levels of $220, $230 and $240 may be visited. The RSI (14) nosedives below 65-level, which may likely give some bearish signals.

Against Bitcoin, the Ethereum price started moving downward as the price broke down after touching 0.025 BTC. The price started falling and the RSI (14) indicator nosedives from the overbought zone, which might be considered as more bearish signs for the market.

ETHBTC – Daily Chart

Moreover, the market may continue to decline if the sellers put more pressure on the buyers, the price could come down to the support levels of 0.023 BTC and 0.022 BTC. Therefore, if there is a rebound, the Ethereum price may likely go up as high as 0.028 BTC and 0.029 BTC.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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      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.