Ethereum price prediction: ETH towards $1400, analyst

TL;DR Breakdown

  • Ethereum price prediction expects a rise to $1458.
  • Strong support lies at the $890 mark.
  • Strong resistance lies at the $1120 mark.

The cryptocurrency market has exploded in the past few days, all major cryptocurrencies are seen to be pushing towards new record-breaking levels. The queen of cryptocurrency has been following the king quite closely. The 24-hour movements are matching that of Bitcoin’s as usual, but as some deviations are expected ETH displayed a higher level of fluctuation.

The queen is skirting close to $1,200. It can be expected that the queen will soon reach towards a new all-time high. The high for the day was around $1,160 while the 24-hour low was recorded at $890. At the time of writing, the queen stands at $1,018.

Ethereum price prediction: ETH towards $1400, analyst 1
Ethereum price chart by Trading View

Eighteen of the total twenty-eight technical indicators are giving out a buy signal, 2 are sell, and eight are neutral. Majority of the oscillator indicators are neutral with 3 buys and just 1 sell. Most of the moving averages are giving out a signal for buy with 1 sell and 1 neutral indication.

Ethereum price prediction: What to expect?

Per the Ethereum price prediction by Gold Wing Management based on a Fibonacci analysis, Ethereum is expected to soon rise to a level of $1458. After this level, the coin can be expected to move either way. 

Ethereum price prediction: ETH towards $1400, analyst 2
Ethereum price prediction chart by Gold Wing Management

In their Ethereum price prediction, Analyst BC Crypto Family has pointed out Ethereum to be in a triangular formation. The analyst has also identified a clear-cut path that they expect Ethereum to be on for the next couple of days. Ethereum is expected to break out of the formation towards the upside and cross the first resistance level of $1100. Ethereum, on an upward trajectory, will head up for the second resistance level at $1,226 but it is likely to fail the first time.

Ethereum will then stabilize in the zone and find strong support at the first resistance level. After stabilizing, the coin will retest the second resistance level and succeed. The cryptocurrency will not stop until it approaches the third resistance level at $1400. The third resistance level will be quite strong and can possibly hinder the coin’s upward trajectory. If the resistance level is crossed, the analyst suggests Ethereum price would easily be underway to $3000 and $5000. 

In their Ethereum price prediction, analyst D U has determined the price action to have formed an ascending triangle. The ascending triangle is an indication of Ethereum’s likelihood of breaking the $1400 level. Ethereum has previously faced major bearish pressures and had an opportunity to dro, but it has been on a steadily upward track. However, the analyst suggests that Ethereum’s volume needs to pick up the pace to continue the bullish pressure. According to the analyst if Ethereum successfully breaks its all-time high, then the price of Ethereum can skyrocket with the $5000 – $10000 range as a potential target.

Although most analysts predict Ethereum to break its previous all-time high, some analysts do not agree. In his Ethereum price prediction, analyst Bumincetin was not very hopeful. The analyst has pointed out a double top formation in the coin’s price action. The double top formation, if validated, results in sharp crashes. The analyst warns traders of long positions as he expects Ethereum to be facing corrections soon.

Post Author: Sitoski

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