InsideBitcoins.com

Ethereum Price Prediction: Will ETH/USD Fall Below $175 Again?

ETH Price Prediction – April 17

ETH/USD price is approaching a crucial support level. The Ethereum price must hold the $175 support to climb towards $180.

ETH/USD Market

Key Levels:

Resistance levels: $200, $205, $210

Support levels: $120, $115, $110

ETHUSD – Daily Chart

At the time of writing, ETH/USD is trading down 1.41% at its current price of $170.12, which marks a notable decline from its daily highs of $173.85 that was set today when the bulls attempted to spark another rally. In the near-term, ETH/USD has been able to find some support in the lower $168.38 level, as it has bounced multiple times after visiting these levels.

The price of the Ethereum is been bitten today by the bear. ETH/USD is currently experiencing a price drop. Many traders were expecting a lot from the coin, although yesterday trading reflected an improvement in ETH prices. The price is currently moving above the 9-day and 21-day moving averages but changing hands at $170.12 which is yet to break out to the upside or downside of the channel.

Moreover, a bearish drop may continue to roll the market down to the support level of $120, $115 and $110 while possible bullish surge may drive the market above the moving averages to $180 level, while testing the upper channel boundary, the $200, $205 and $210 may further provide resistance levels for the market. The RSI (14) is about moving to the negative side and staying there would cause the coin to remain below the $170 level.

Against Bitcoin, the market price remained in the descending channel but the bears are trying to step back into the market. ETH/BTC is currently trading at 0.0239 BTC and the bulls couldn’t push the price to cross the channel. Looking at the chart, if the market continues to drop, the next key supports may likely be at 0.0220 BTC and below.

ETHBTC – Daily Chart

However, on the upside, a possible bullish movement may likely push the market across the channel, when this is done, the resistance level of 0.0260 BTC and above could be visited. The RSI (14) nosedives to the south, which indicates that the market may continue to fall.

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.