Ethereum price prediction!
Ethereum price gained pace above the $2,100 and $2,200 resistance levels against the US Dollar.
ETH price is now trading well above $2,100 and the 55 simple moving average (4-hours).
There is a major bullish trend line forming with support near $2,200 on the 4-hours chart .
The pair could either decline heavily or it might start a new increase above $2,300 in the near term.
Ethereum price is struggling to hold gains above $2,200 against the US Dollar.
A technical setup in ETH looks ready to push it further up beyond $2,325.07.
looking at Ethereum price action since it broke the trend line on June 28, it has made a new intermediate high around $2,360.
ETH dipped lower only to test another trend line and I think that it looks ready for the jump higher.
ETH now should pop above $2,360, only to retest it later on this week before then trading higher toward a more significant profit level.
we had two confirmed tests: that each time pushed the price back toward that $2,360-level. If that trend line would break, ETH is still waiting for a retest and would be the next point of entry for buyers to enter.
The 55 SMA is also near $2,150. Any more losses might lead the price towards the $2,000 support zone. And any more losses could lead the price for a drop towards the $1,850 support zone in the near term.
An immediate resistance is near the $2,250 level. The next major resistance is near the $2,275 level . Any more gains could set the price for a move towards the $2,400 level. The next major resistance is near the $2,500 level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.