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Ethereum Price Prediction: ETH/USD Touches New Month High At $226

ETH Price Prediction – April 30

The price of Ethereum climbed higher today and touched $226 Resistance Level.

ETH/USD Market

Key Levels:

Resistance levels: $255, $260, $265

Support levels: $170, $165, $160

ETHUSD – Daily Chart

ETH/USD has tested $226 during early Asian hours after which it went down and touched the $201.75 level but later managed to recover above $215 at the time of writing. The price of Ethereum (ETH) with the current market value of $217.25 has stayed unchanged on day-to-day with a loss of 1.76% as the coin is rebounding back to where it started trading today.

Moreover, the price of Ethereum is still trading within the ascending channel. Looking at the daily chart, we can see that ETH/USD is trying to recover from the loss of today. Therefore, if the buyers continue to push the market higher, the immediate resistance above the $220 level may be located. Above this, further resistance levels lie at $255, $260 and $265.

Alternatively, as the technical indicator RSI (14) nosedives from the overbought zone, if the bears put more pressure, they may likely bring the market price down below the 9-day moving average as the bears can expect the immediate support to be located at $180. Below $180, further support is found at $170, $165, and $160 levels.

Against Bitcoin, the Ethereum (ETH) is still trading below the 9-day and 21-day moving averages within the channel while the price is changing hands at 2404 SAT. The coin may experience more drops if the technical indicator RSI (14) continues to move below 50-level to indicate the downward movement.

ETHBTC – Daily Chart

However, the daily chart reveals that the market faces the south while the bulls are trying to bring the price back to where it started trading at 2462 SAT. If this possible, the coin may likely move above the channel to hit the resistance levels of 2800 SAT and 2900 SAT. Conversely, a lower sustainable move may continue to attract new sellers with the next focus on 2100 SAT and 2000 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.

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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.