ETH Prepares for $1500 Resistance, Buy TAMA, and Hold
The Ethereum (ETH) price is getting ready to cross above the 9-day moving average after a rapid retracement within the channel.
Ethereum Prediction Statistics Data:
- Ethereum price now – $1329
- Ethereum market cap – $162.6 billion
- Ethereum circulating supply – 122.5 million
- Ethereum total supply – 122.5 million
- Ethereum Coinmarketcap ranking – #2
ETH/USD Market
Key Levels:
Resistance levels: $1800, $2000, $2200
Support levels: $900, $700, $500
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ETH/USD is currently recovering above the opening price of $1294 and it is likely to climb above $1400 soon. Meanwhile, the Ethereum price is now trading above the 9-day moving average as bulls may begin to dominate the market.
Ethereum Price Could Reach $1500 as Tamadoge Increases
The Ethereum price may cross above the 9-day and 21-day moving averages. If ETH/USD breaks toward the upper boundary of the channel, it could visit an important resistance at $1500. However, a successful break above this level could open another increase above the $1600 level. The price is likely to rise towards the $1800, $2000, and $2200 resistance levels in the next positive direction.
As the technical indicator Relative Strength Index (14) moves within the 40-level, meaning that the market may soon break to the upside but breaking below this level may cause the coin to cross below the lower boundary of the channel, and should this come to focus, ETH/USD could touch the nearest support at $1200 support. The next major support is below the lower boundary of the channel, where the bulls are likely to take a strong stand but any further losses could lead the price towards the $900, $700, and $500 support levels.
When compares with Bitcoin, the Ethereum price is now moving above the 9-day moving average as the market keeps changing trends; It is necessary for the cross above the 21-day moving average before heading to the upper boundary of the channel. Meanwhile, the technical indicator Relative Strength Index (14) is revealed to move within the 40-level, a bullish movement confirmation.
However, if the price breaks above the 21-day moving average, bulls might push the market back to the nearest resistance level of 8000 SAT. Moreover, if the price stays above this level, traders may expect an immediate resistance at 9000 SAT and above. On the other hand, crossing below the lower boundary may locate the support level at 6000 SAT and below.
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Tamadoge – Play to Earn Meme Coin
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- Upcoming ICO on OKX Exchange
