ETH Price Prediction – April 2
ETH/USD started today on a negative note but a sustainable move above $150 will improve the technical picture.
ETH/USD Market
Key Levels:
Resistance levels: $170, $180, $190
Support levels: $110, $100, $90
ETH/USD has tested $135 during early Asian hours as the price went down and touched the $133.56 level but later managed to recover above $150 to touch $151.74. The price of Ethereum (ETH) with the current market value of $141 has stayed unchanged on a day-to-day basis and gained nearly 3.84% since the coin rebounded amid the recovery across the cryptocurrency markets.
However, the Ethereum price has continued to rise further higher until it finds resistance at the expected level of $45. Looking at the daily chart, we can see that ETH/USD even spiked higher into the resistance level at $151.74. Therefore, if the buyers push the market higher one more time, the immediate resistance above the $160 level will be located. Above this, further resistance levels lie at $170, $180 and $190.
Alternatively, if the bears step back into the market to bring down the price below the 9-day and 21-day moving averages, the bears can expect immediate support to be located at $130 which is below the 9-day MA. Below $120, further support is found at $110, $100 and $90 levels. Meanwhile, the RSI (14) moves above 45-level, which signals a more bullish movement.
Against BTC, Ethereum is still trading above the 9-day moving average within the descending channel and the price is now hovering at 2089 SAT as the RSI (14) faces the north by moving above the 39-level. Although the bears remain the dominant of the market, the bulls will need to break the upper boundary of the channel to take charge.
Furthermore, the resistance levels to be reached are 2300 SAT and 2400 SAT. Conversely, a lower sustainable move below the 9-day moving average may likely cancel the bullish pattern and this could attract the sellers coming back into the market with the next focus on 1900 SAT and 1800 SAT support levels.
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