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Ethereum Price Prediction: ETH/USD Stuck in Range While the Price Fails to Cross $175

ETH Price Prediction – April 9

The Ethereum price has been range-bound with bullish bias in recent days.

ETH/USD Market

Key Levels:

Resistance levels: $210, $215, $220

Support levels: $130, $125, $120

ETHUSD – Daily Chart

Looking at the daily chart, it was discovered that the ETH/USD failed to continue above $176 and declined below $174 and the price is currently correcting higher, but it is likely to face the resistance near $190 and $195. The price is trading above the 9-day and 21-day moving averages.

Moreover, the Ethereum (ETH) is at an astounding level. The coin took a leap during the first half of the day and started dealing at $163.91. A few weeks ago, the coin began an upward movement since March 17 where it moved from $112.50 and continued until April 6 that it gave a surprising upsurge in the market.

At the moment, ETH/USD price continues to move in sideways within the channel and trading at $170.53. In the scenario where it maintains the upward movement above the moving averages, the buyers may likely find resistance at $210, $215 and $220. Conversely, if the bears push the price below the channel, the sellers may have critical support at $130, $125 and $120 levels.

Meanwhile, the stochastic RSI continues to move in the same direction as the price stuck in a range within the overbought, which shows that the market is indecisive for now.

Against Bitcoin, the market price remained in the ascending movement, currently trading at the level of 2335 SAT and expecting a break out above the channel. Looking at the daily chart, we can see that the bulls are taking control of the market. If the market continues to rise, the next key resistance levels may be at 2500 SAT and above.

ETHBTC – Daily Chart

However, on the downside, a possible drop could bring the market below the moving averages of 9 and 21 days which may visit the support levels of 2200 SAT and below. According to the stochastic RSI, the market faces an upward trend, which could trigger more bullish signals in the market soon.

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.