Ethereum Price Prediction: ETH/USD Nearly Hits $4000 Level

Ethereum Price Prediction – September 5

The Ethereum price prediction shows that ETH is moving above the main resistance level of $3900 as the coin aims higher.

ETH/USD Market

Key Levels:

Resistance levels: $4400, $4600, $4800

Support levels: $3500, $3300, $3100

ETH/USD is seen following the bullish movement as the coin continues to break many mountains. Presently, the Ethereum (ETH) is making a gain of almost 1.57% and touches the daily high of $3982. However, the Ethereum price is seen hovering above the 9-day and 21-day moving averages and traders may expect the Ethereum price to prepare itself steadily for a ride towards the resistance level of $4000.

Ethereum Price Prediction: ETH Price Ready to Blow Hot

The Ethereum price has been moving from the support level of $3835 to touch the daily high of $3982 and at the same time moving to break the upper boundary of the channel. Meanwhile, the ongoing trend may move a little bit higher in the next positive move if the 9-day MA stays above the 21-day MA. However, the coin may touch the nearest resistance level of $4000. Therefore, any further bullish movement within the market could hit additional resistance levels at $4400, $4600, and $4800 respectively.

Moreover, any bearish drop below the 9-day and 21-day moving averages may cause the market to follow a downward movement and could also to the initial support level of $3400. Meanwhile, the support levels are located at $3500, $3300, and $3100. As the daily chart reveals, the technical indicator Relative Strength Index (14) is moving within the overbought region which indicates that more bullish signals may come to play.

When compares with Bitcoin, Ethereum is currently trading below the upper boundary of the channel. The price is changing hands at 7647 SAT as the technical indicator Relative Strength Index (14) moves out of the overbought zone. However, the daily chart reveals that the coin is retreating after touching the daily high of 7875 SAT.

Negatively, the critical support level is located at 7100 SAT and below. Inversely, a higher sustainable move above the upper boundary of the channel may likely attract new buyers to the market with the next resistance at 8400 SAT and above.

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