According to the latest Ethereum price prediction on the long-term price target of the cryptocurrency is $2,200 (ETH/USD) for 2018. Here is why.
Ethereum is one of the most popular cryptocurrencies with its current price of $299.95 USD, and it has broken the $300 barrier for the second time in the past month.
This week’s price action for Ethereum (ETH) is a story of two parts. First, ETH is on a strong uptrend, with no signs of slowing, and is on track to break $300 by the end of the week. Second, we see a dip in ETH’s price as crypto markets are seeing quite a bit of volatility.. Read more about eth news today and let us know what you think.
TL;DR Summary
- Overnight, the price of ETH increased.
- To be tested is resistance around $2,200.
- Early next week, the market is expected to reverse.
According to Ethereum price research, positive momentum is expected later today, with the $2,200 level being the current objective. As a result, ETH/USD is expected to rise above $2,200 in the following 24 hours, before reversing early next week.
Heat map of cryptocurrencies. Coin360 is the source of this information.
Bitcoin and Ethereum have both risen by more than 4% in the past 24 hours, putting the cryptocurrency market in the black. The remainder of the major cryptocurrencies are following suit, with Polkadot (DOT) leading the pack with a rise of more than 7.5 percent.
The price of Ethereum has risen over $2,100 in the previous 24 hours.
Over the past 24 hours, ETH/USD moved in a range of $2,000 to $2,169.76, suggesting a high level of volatility. The overall market capitalization is approximately $252.65 billion, resulting in a market domination of 18.19 percent. Trading volume has dropped by 5.67 percent to $15.5 billion.
ETH/USD 4-hour chart: Is ETH on its way to $2,200?
The Ethereum price is quickly moving towards the next barrier at $2,200 on the 4-hour chart.
4-hour chart of ETH/USD. TradingView is the source of this information.
Over the last month, the general Ethereum price action structure has continued to show negative momentum. After setting a lower swing high at $2,400, ETH/USD fell almost 30% and retested the prior major swing low around $1,725.
After breaking prior support turned resistance levels at $2,000 and $2,100, ETH began to quickly climb from the $1,725 low. There was further upside overnight, resulting in a total gain of approximately 25% without a significant reversal. Bulls are likely tired as a result of this price movement, and we are unlikely to see much more upside in the coming days.
Before the bears take over early next week, the $2,200 level will almost certainly be challenged. As a result, we anticipate the price to rise to $2,200 in the following 24 hours. However, if Ethereum price drops below $2,200, it will most likely begin to fall once again, attempting to record a higher swing low over $1,725 in the process.
Conclusion of the Ethereum Price Analysis
According to Ethereum price research, bulls are aiming for the $2,200 barrier level in the next 24 hours. From there, we anticipate the price of ETH/USD to fall and establish another medium-term swing low.
Read our tips on Bitcoin fees, DeFi, and what you can purchase with Bitcoin while you wait for Ethereum to hit $2,200.
Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.
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