ETH Trades Near $1,700 Level; TAMA to Pump Furiously

Original author: Azeez Mustapha

The Ethereum price prediction shows that ETH is gaining additional strength as the coin crosses above the 9-day moving average.

Ethereum Prediction Statistics Data:

Ethereum price now – $1,642
Ethereum market cap – $200.2 billion
Ethereum circulating supply – 122.2 million
Ethereum total supply – 122.2 million
Ethereum Coinmarketcap ranking – #2

ETH/USD Market

Key Levels:

Resistance levels: $2000, $2200, $2400

Support levels: $1200, $1000, $800

ETHUSD – Daily Chart

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ETH/USD is likely to refresh to the upside as the coin currently trades at $1,640 with a bullish crossover and trend intraday. Today, the Ethereum price is likely to cross above the 21-day moving average as the higher resistance may come in the next positive direction.

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The Ethereum price is likely to increase the bullish movement if the price moves toward the upper boundary of the channel. At the moment, the technical indicator Relative Strength Index (14) is crossing above the 40-level, and it could send bullish signals into the market to encourage more buyers.

Moreover, if the 9-day moving average crosses above the 21-day moving average, it is confirmation that the coin will face the north, and the price could hit the nearest resistance levels at $2000, $2200, and $2400 respectively. On the contrary, if the technical indicator Relative Strength Index (14) drops below the 50-level, there may be a little retreat to the south, which could bring the market price to the support levels of $1200, $1000, and $800.

Against Bitcoin, Ethereum (ETH) stays above the 9-day and 21-day moving averages as the price heads to the upside. Therefore, the fact that the market remains in an ascending channel, the crypto is likely to form more bullish movements as the technical indicator Relative Strength Index (14) crosses above the 60-level.

However, if the buyers continue to push the market price towards the upper boundary of the channel, Ethereum (ETH) may touch the resistance level of 9600 SAT and above. Meanwhile, traders should watch out for any strong selling pressure which could bring the price below the moving averages, this could attract new sellers coming into the market with the next focus on the support level of 6600 SAT and below.

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