ETH Trades at $1136; Price Set to Rebound

The Ethereum price prediction reveals that ETH is currently trading above $1000 after a significant dip towards $900.

Ethereum Prediction Statistics Data:

• Ethereum price now – $1136
• Ethereum market cap – $137.7 billion
• Ethereum circulating supply – 121.2 million
• Ethereum total supply – 121.2 million
• Ethereum Coinmarketcap ranking – #2

ETH/USD Market

Key Levels:

Resistance levels: $1800, $1900, $2000

Support levels: $300, $200, $100

ETH/USD is trading at $1136 where the coin is likely to move sideways, but the technical indicator Relative Strength Index (14) shows that the bullish movement may be coming close as the signal line is recovering from the oversold region. However, the 9-day and 21-day moving averages indicate that bears are still having the ability to control the market as the 9-day MA remains below the 21-day MA.

Ethereum Price Prediction: What to Expect from Ethereum

As the Ethereum price is hovering below the 9-day and 21-day moving averages within the channel, the coin is likely to embark on a movement towards the upside. However, a sustainable move from this barrier may improve the bullish movement and allow for an extended recovery towards the resistance level of $1200. However, if the coin stays above this level, it could negate the bearish scenario and bring the nearest resistance of $1800, $1900, and $2000 levels into play.

Nevertheless, the technical indicator Relative Strength Index (14) on the daily chart may move out of the negative side, but a failure to remain at the oversold region could worsen the technical picture and lay the ground for the further sell-off below the lower boundary of the channel. Any further bearish movement could locate the supports at $300, $200, and $100 respectively.

Against Bitcoin, ETHC/BTC is trading below the moving averages as the bears are likely to step back into the market. Now, ETH/BTC is trading at 5428 SAT as the bulls could push the price to cross above the 9-day and 21-day moving averages. On the other hand, if the market drops below the lower boundary of the channel, the next key support may come at 4500 SAT and below.

However, on the upside, if the coin crosses above the moving averages, the resistance level of 6200 SAT and above may be visited. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross above the 40-level, suggesting that the market may go up.

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