ETH/USD Holds Strong Above $1280 Resistance

The Ethereum price prediction reveals that ETH is showing positive signs above the $1,200 level; it is consolidating gains and might eye more upsides above $1,500.

Ethereum Prediction Statistics Data:

• Ethereum price now – $1281.51
• Ethereum market cap – $156.8 billion
• Ethereum circulating supply – 122.3 million
• Ethereum total supply – 122.3 million
• Ethereum Coinmarketcap ranking – #2

ETH/USD Market

Key Levels:

Resistance levels: $1700, $1900, $2100

Support levels: $950, $750, $550

ETH/USD is hovering above $1280 as the coin prepares to gain more bullish signals toward the upper boundary of the channel. If the Ethereum price fails to climb above the $1,300 resistance, it could start another decline. Initial support on the downside is near the $1,250 level. The next major support could be located at the $1,200 level, which Ethereum price may perhaps revisit the $1,170 support zone.

Ethereum Price Prediction ETH Suggests Upside Break

The Ethereum price remains well above the $1,250 level, similar to Bitcoin. It begins a steady recovery wave above the 9-day and 21-day moving averages. Looking at the daily chart, the $1100 remains to be a key support zone, and if it is broken, the sell-off may be extended toward the $1000 support level. Currently, the price of the coin is changing hands at the $1281 level, and the bulls are making effort.

However, any bearish movement below the moving averages may welcome bears into the market, and the price could reach the support levels at $950, $750, and $550. Moreover, the technical indicator Relative Strength Index (14) is moving above the 50-level which indicates the continuation of the bullish trends and further resistance could be found at the $1700, $1900, and $2100 levels.

Against BTC, the daily chart shows that the Ethereum price is likely to cross above the upper boundary of the channel. As soon as the price crosses above the channel, there is a possibility of additional bullish movement in the long term. Therefore, if the price keeps rising, it could break the 9000 SAT and above.

Meanwhile, if the bears regroup now, the 6500 SAT and 6700 SAT supports may play out before rolling to the critical support at 6000 SAT and below as this may create a new low for the coin. At the moment, the daily outlook is slightly bullish as the Relative Strength Index (14) moves close to the 60-level, suggesting more bullish signals.

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