ETH/USD Could Break Above $1250 Resistance

The Ethereum price prediction shows that ETH is beginning to restart the uptrend after trading below the moving averages.

Ethereum Prediction Statistics Data:

• Ethereum price now – $1207
• Ethereum market cap – $147.8 billion
• Ethereum circulating supply – 122.3 million
• Ethereum total supply – 122.3 million
• Ethereum Coinmarketcap ranking – #2

ETH/USD Market

Key levels:

Resistance Levels: $1700, $1900, $2100

Support Levels: $800, $600, $400

ETH/USD is trying to look green as the price hovers around the resistance level of $1207.5. However, a daily close above the daily high of $1232 may increase the Ethereum price to $1250. Traders should note that a consistent price increase may bring more buyers into the market as bulls increase their positions.

Ethereum Price Prediction: ETH Price May Break Higher

In the past few days, after the Ethereum price crossed below the 9-day and 21-day moving averages, ETH/USD has been looking forward to breaking to the upside. Meanwhile, the daily chart reveals that if the 9-day moving average remains below the 21-day moving average, the coin may stay on the downside.

Nevertheless, the bears may take advantage to break towards the lower boundary of the channel if the bulls fail to move the price upward and the technical indicator Relative Strength Index (14) keeps moving above the 40-level. However, if the Ethereum price crosses above the 21-day moving average, crossing above the upper boundary of the channel could hit the resistance levels of $1700, $1900, and $2100 but facing the south may bring the price to the supports at $800, $600, and $400.

Against Bitcoin, the Ethereum price is slightly crossing above the moving averages while the intraday trading ranges as the coin heads toward the upper boundary of the channel, breaking above this barrier could push the coin to the resistance level at 8500 SAT and above.

On the contrary, if the sellers bring the market to the south, traders can expect a fall below the 9-day and 21-day moving averages, breaking below this barrier may hit the support at 6200 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) moves to cross above the 50-level, suggesting bullish movement.

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