Ethereum Price Analysis: ETH Rallies 10% Off Support, Here’s the Next Target

Key Support levels: $2,500, $2,330

Key Resistance levels: $2,800, $3,000

The first key resistance for ETH will be at $2,800. In the past, this level was never really difficult for buyers to overtake. If this is once again the case, then the biggest challenge for ETH is the $3,000 resistance. So far, the support at $2,500 was well-defended, and ETH managed to rally over 10% after touching it.

Chart by TradingView

Technical Indicators

Trading Volume: The volume is rather low for such a move. Therefore, it’s important to remain vigilant.

RSI: The daily RSI made a higher low and is now moving above 50 points. It is important for the RSI to also make a higher high. Otherwise, this most recent move may reverse.

MACD: The daily MACD remains bearish, but the histogram is making higher lows, and a possible crossover to the positive side is likely if the bullish momentum maintains.

Chart by TradingView

Bias

The bias for ETH is neutral. ETH would turn bullish if it manages to break above $3,000.

Short-Term Price Prediction for ETH

ETH has succeeded in making another higher low on the price chart after the bounce from $2,500. This is a bullish signal. So long as this is maintained, the cryptocurrency has a good chance of challenging the key resistance.

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