- As per Ethereum Price Prediction (BITSTAMP: ETH), the coin price decreased by 1.39% over the last 24 hours.
- The price of the ETH coin is trading at $1908.3 and the 52-week price bound range is $1019.22 – $2137.45.
As per Ethereum Price Prediction, the coin price showed a decline of -1.56% in Open Interest in the last 24 hours. The total number of short positions added in the last 24 hours is $963.81K against longs of $9.07 million. The 24-hour long versus short ratio is 0.9346.
The ETH price completed a bullish pattern known as a bullish flag in a span of 5 months. As of now the price is consolidating and hovering in a range of $1910 to $1950. The average volume is 5.07K and the current volume is 979. As observed from the volume graph, the current volume is below the average volume line.
This month the coin performed well as it was up by 1.48%. Also, ETH price was up by 52.67% in the last six months which highlighted good performance over a span of six months. Moreover, the Ethereum coin price year-to-date return is positive with an increase of 59.62% and the 1-year performance is positive with a 65.88% rise.
Ethereum Price Technical Analysis in 1-D Timeframe
As per the price action in the long term, it seems the price is taking support on the trendline. After every fall, the coin took support and tried to recover from the trendline. As per price action, the coin achieved a bullish flag pattern and with that, it gave an upward rally, but as observed from the last two weeks the price is consolidating and hovering in a limited price area, the decrease in volume might be the cause of this consolidation in the Ethereum market. We can anticipate more upward move only if more volume accumulates.
Source: ETH/USD.1D.BITsTAMP by TradingView
At the time of publishing, the Ethereum coin price (BITSTAMP: ETH) price is trading above the 20, 50, 100, and 200-day EMAs (exponential moving average), which is supporting the coin price trend. There is a possibility that the ETH price will increase even further and More upward movement is expected for the coin in upcoming days.
Source: ETH/USD.1D.BITSTAMP by TradingView
The MACD line at 33.3 and the signal line at 24.2 is above the zero line and gave a bullish crossover, suggesting bullish signals. The current value of RSI is 56.39 points and the 14 SMA is above the median line at 57.99 points which indicates an upward direction and bullish sentiment in the market.
Extraction
The Ethereum price prediction highlights the sentiments and perspectives of investors and traders regarding the ETH coin price being bullish in the 1-D time frame. The ETH price action reflects an optimistic view at the time of publishing. The technical parameters of the ETH price suggest the continuation of the uptrend over the daily time frame chart. The ETH coin price reflects an optimistic view at the moment. Major legitimate indicators MACD, RSI, and EMA, flaunt positive signals about the ETH coin price.
Technical Levels:
- The nearest support: $1659.6 and $1608.2.
- The nearest resistance: $2051.2 and $2134.7.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
