Ethereum price prediction: Ethereum spikes above $2,800, ready to break $3,000? 

TL;DR Breakdown

• ETH found support at $2,400 yesterday.
• $2,800 broken in the morning. 
• Next resistance for ETH/USD at $3,000

Today’s Ethereum price prediction is bullish as the market continued to move higher overnight and broke above the previous resistance at $2,800. Therefore, we expect ETH/USD to move higher later today towards the next resistance at $3,000.

The overall market trades in the green over the last 24 hours. Bitcoin has gained 7.3 percent, while Ethereum 15 percent. The rest of the altcoin market has traded with similar bullish results.

ETH/USD opened at $2,707 after a slight bullish close yesterday. The previous resistance at $2,800 was broken, indicating that bulls control the market price action.

Ethereum price movement in the last 24 hours

ETH/USD traded in a range of $2,396 – $2,911, indicating a moderate amount of volatility. The trading volume over the last 24 hours has decreased by 8.32 percent and totals $46.9 billion. The total market cap stands at $326 billion, resulting in market dominance of 18.77 percent.

ETH/USD 4-hour chart – ETH spikes above $2,800

When looking at the 4-hour chart, we can see the Ethereum price setting a higher high over the past hours, meaning that bulls are in control.

The overall market continued to trade in a bearish momentum over the past weeks. Since setting a new all-time high at $4,400 on the 12th of May, ETH/USD retraced more than 50 percent until resistance was found around $1,900.

From there, another spike lower was set last week to the $1,725. This resulted in an equally strong push to the upside over the last days, with the $2,800 resistance broken yesterday. 

Overnight, ETH/USD retraced and found local support at the $2,400 mark, where the market reversed once again and started to move higher overnight. The Ethereum price spiked above the $2,800 resistance yesterday, indicating that bulls are taking over the overall price action development.

Therefore, we expect further upside later today, with the $3,000 mark likely broken. A clean break above the $3,000 mark would further indicate that the overall market sentiment is switching back to bullish.

Ethereum Price Prediction: Conclusion 

Ethereum price prediction is bullish as the market continues moving higher towards the $3,000 price mark. Once it is broken, we can expect the bullish momentum to increase even more over the following days.

While waiting for further Ethereum price action development, read our latest guides on how to buy Cardano, how to mine Zcash, and how to 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-2021-05-26/