Ethereum price prediction: Ethereum peaks around $2,700, break higher overnight?

TL;DR Breakdown

• ETH moved higher overnight.
• Resistance found at the $2,700 mark.
• Another push higher likely to be seen overnight.

Today’s Ethereum price prediction is bullish as the market continues moving higher over the past few days and prepares to move higher over the following 24 hours, with the next target located at $3,000.

The overall market trades with mixed results over the past 24 hours. Bitcoin and Ethereum are both down slightly, while Cardano (ADA) is among the best performers with a gain of 6.5 percent.

ETH/USD opened at $2,707 after a bullish close yesterday. Currently, a slight retracement has been set over the past hours, likely leading to another attempt to move higher over the next 24 hours. Therefore, we expect ETH/USD to move higher overnight and try to breach the $3,000 mark later this week.

Ethereum price movement in the last 24 hours

The ETH/USD traded in a range of $2,531 – $2,739, indicating moderate volatility. 24 hours trading volume has decreased by 8.82 percent, resulting in a trading volume of $27 billion. The total market cap trades around $300 billion, resulting in market dominance of 18.53 percent.

ETH/USD 4-hour chart – ETH continues moving higher

Looking at the 4-hour chart, we can see ETH/USD pushing to the $2,700 mark over the past 24 hours, indicating that we will see a move to $3,000 over the next 24 hours. 

The overall market continues moving higher over the past days after finding support at $2,200. From there, ETH/USD reached the $2,700 mark yesterday and currently retraces slightly to prepare for the next push higher.

The next target is located at the $3,000 mark, which when broken would further indicate that the overall market momentum has shifted. However, until the $3,000 resistance is broken, we can expect the ETH/USD price to trade sideways over the next few days.

If the $3,000 mark breaks, Ethereum should see further upside later next week. With the closest target at $3,200, which if reached from the current market price would mean a gain of 25 percent. 

Ethereum Price Prediction: Conclusion 

Ethereum price prediction is bullish as the market continues gaining momentum and has reached the $2,700 resistance over the last 24 hours. Therefore, we expect ETH/USD to move higher over the next 24 hours and finally break the $3,000 mark.

While waiting for further Ethereum price action development, read our latest guides on how to buy Cardano, mine Zcash and invest in Bitcoin.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Source: https://www.cryptopolitan.com/ethereum-price-analysis-2021-06-01/