InsideBitcoins.com

Ethereum Price Prediction: ETH/USD Regains Ground But $200 Still Unconquered

ETH Price Prediction – April 24

ETH/USD is recovering, moving in sync with the market. A sustainable move above $195 may improve the technical picture.

ETH/USD Market

Key Levels:

Resistance levels: $220, $225, $230

Support levels: $155, $150, $145

ETHUSD – Daily Chart

ETH/USD has continued to rise further higher until it finds resistance at the expected level of $195. Looking at the daily chart, we can see that ETH/USD even spiked higher into the resistance level at $190.14 in the early hours of today. Therefore, if the buyers continue to push the market higher, the immediate resistance above $210 level will be located. Above this, further resistance levels lie at $220, $225, and $230.

Alternatively, if the bears try to bring down the price below the 9-day and 21-day moving averages, the bears can expect immediate support to be located at $180 which is below the trend line of the channel. Below $160, further support is found at $155, $150, and $145. Meanwhile, the RSI (14) is moving above the 60-level, which indicates that more bullish signals may come to play.

When compared with Bitcoin, Ethereum is still trading around the 9-day and 21-day moving averages within the ascending channel and the price is now hovering at 2496 SAT as the stochastic RSI nosedives towards the 40-level. Although the bulls remain the dominant of the market as the pair seems to be moving towards the upper boundary of the channel.

ETHBTC – Daily Chart

However, looking at the upside, the resistance levels to be reached lies at 2700 SAT and 2800 SAT. Conversely, a lower sustainable move may likely cancel the bullish pattern and this could attract new sellers to the market with the next focus on 2300 SAT and 2200 SAT support levels.

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.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies
4.5/5

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews

    https://insidebitcoins.com/visit/etoro-newsCreate your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees
    4.5/5

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews

      https://insidebitcoins.com/visit/plus500-newsCreate your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.
      Avatar

      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.