Ethereum price prediction: Will ETH top the $2k level soon?

2023-5-24 16:35

Key takeaways

Ether has been trading around the $1,800 region over the past few weeks.

The crypto market is slowly recovering from its recent slump and ETH could target the $2k psychological level soon.

Ether is yet to test the 11-month high of $2,141 since it reached that level after the Shanghai update.

Ether could test the $2k level soon

Ether, the second-largest cryptocurrency by market cap, has been underperforming in recent weeks. The cryptocurrency has been trading between the $1,750 and $1,850 level over the past few weeks.

The performance coincides with a stagnant performance from the broader cryptocurrency market. The total cryptocurrency market cap has stood around the $1.1 trillion region during that period.

At press time, the price of Ethereum stands at $1,852, up by more than 2% over the last 24 hours. The positive performance comes as the sentiment in the broader crypto market improves.

Investors continue to observe the ongoing debt ceiling talks in the United States, with some of them leaning towards cryptocurrencies as hedge against a possible US debt default. 

Ether, as the second-largest cryptocurrency by market cap, could be one of the biggest winners if the market attracts more investors.

Key levels to watch

The ETH/USD 4-hour chart is looking bullish as Ethereum has been performing well over the past 24 hours. The technical indicators show that ETH could rally higher in the near term.

ETH/USD Chart By TradingView

 

The MACD line is now within the positive zone, indicating that the bulls are currently in charge of the Ether market. The 14-day RSI of 64 also shows that Ether could soon enter the overbought region if the rally continues.

If the current market conditions persist, ETH could test the first major resistance level at $1,921 before the end of the day. However, ETH could need the support of the broader crypto market to reach the second major resistance level at $2,008 in the near term. 

Where to buy Ethereum now

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy ETH with eToro today Disclaimer

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy ETH with Coinbase today Disclaimer

The post Ethereum price prediction: Will ETH top the $2k level soon? appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Level Up Coin (LUC) на Currencies.ru

$ 0 (+0.68%)
Объем 24H $0
Изменеия 24h: 1.94 %, 7d: 12.29 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 7.53E-5 (-100%)

level eth soon slowly recovering market weeks

Источник: coinjournal.net

level eth → Результатов: 126


Ethereum Is About to “Moonshot” After Surging Past This Key Level

Ethereum (ETH) may be on the cusp of seeing a massive parabolic rally, with the crypto’s recent bullishness laying the groundwork for what could be a violent upwards movement. The firm uptrend that ETH has been caught within throughout 2020 has allowed it to slowly grind up towards the $200 level – a price region... The post appeared first on NewsBTC.

2020-2-6 00:00


Ethereum Breaking This Level Could Lead to a Massive Technical Breakout

Ethereum’s firm 2020 uptrend has been quite significant, as it has drastically altered the cryptocurrency’s market structure, making ETH look to be incredibly bullish at the moment. It is important to note that ETH is currently on the cusp of breaking above a key resistance level that could catalyze a significant upwards movement against its... The post appeared first on NewsBTC.

2020-2-2 23:00


A Visit to This Level Could Send Ethereum on a Face Ripping Rally

Ethereum (ETH) has found itself caught within a firm upwards trend over the past month, which has come about in tandem with the uptrend seen by the aggregated crypto markets throughout 2020. This momentum reached a boiling point yesterday evening when Bitcoin rallied to fresh 2020 highs of $9,500 before finding some resistance, which in... The post appeared first on NewsBTC.

2020-1-30 02:00


Ethereum’s consolidation trend may turn into a full-blown bull rally if it breaks this key level

Ethereum has been able to begin gaining some tempered momentum following its recent drop to lows of $162, as ETH has now pushed its way back up towards the $170 region. Although the cryptocurrency is still trading down slightly from its recent highs of $177 that was set this past Saturday, its ability to hold […] The post Ethereum’s consolidation trend may turn into a full-blown bull rally if it breaks this key level appeared first on CryptoSlate.

2020-1-22 16:41


As Ethereum Hits a Make or Break Level, This Factor Could Spell Doom for What’s Next

Ethereum has had a great week, as it has been able to post consistent gains that have allowed ETH to claim a stable position within the $140 region. Despite this, it has been woefully underperforming Bitcoin over the past 24-hours, and it is unclear whether it will soon begin a descent as investors transfer capital... The post appeared first on NewsBTC.

2020-1-8 23:00


Ethereum Technical Analysis Sees ETH Track BTC Higher

Ethereum has a bullish short-term trading bias and a bearish medium-term outlook The four-hour time frame shows that a bullish inverted head and shoulders pattern has formed The daily time frame shows that a breakout above the $140 level could be very bullish for ETH/USD Ethereum is moving higher on Monday, as the second-largest cryptocurrency […] The post Ethereum Technical Analysis Sees ETH Track BTC Higher appeared first on Crypto Briefing.

2020-1-6 20:46


This Indicator Signals the Ethereum Bear Market is Over, But Will an Insane Rally Follow?

Despite the lackluster price action seen by Bitcoin over the past several days, Ethereum (ETH) has been able to climb back above its previous resistance level at $130 and find some decent buying pressure at this price region, which has come about after an extended period of trading sideways just above its key support level... The post appeared first on NewsBTC.

2019-12-31 00:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Consensys lays off 20% of its total workforce

Consensys cuts 20% of its workforce due to economic and regulatory challenges. CEO Joe Lubin criticizes the SEC’s actions as a harmful “abuse of power. ” The company aims to enhance decentralization and evolve into a “Network State.

Ethereum Price: Analysts Point to Ultra-Bullish Breakout

Today, the crypto market recorded outflows, wiping out previous gains in Ethereum and other altcoins. These recent short-term exits weakened the bullish drive, with several digital asset whales repositioning their portfolios.