ETH/USD Price Struggles to Stay Above $1000

The Ethereum price prediction shows that sellers swing into action amid calls for revenge, and the bearish action hits the daily low at $1078.

Ethereum Price Statistics Data:

• Ethereum price now – $1,105
• Ethereum market cap – $135.3 billion
• Ethereum circulating supply – 122.3 million
• Ethereum total supply – 122.3 million
• Ethereum Coinmarketcap ranking – #2

ETH/USD Market

Key Levels:

Resistance levels: $1500, $1600, $1700

Support levels: $800, $700, $600

At the time of writing, ETH/USD is trading down 3.06% at its current price of $1105.51, which marks a notable decline from its daily high of $1143 that was set today when the bulls attempted to push the coin to the north. In the near term, the Ethereum price could find the nearest support at the $1000 level, as the market price remains below the 9-day and 21-day moving averages.

Ethereum Price Prediction: ETH Price May Continue to Look Bearish

The Ethereum price is trading below the 9-day and 21-day moving averages, waiting for a drop toward the lower boundary of the channel. Meanwhile, the coin may need to move above the resistance level of $1200 to give the second-largest crypto a boost above $1400 before reaching the important resistance levels at $1500, $1600, and $1700.

On the downside, the technical indicator Relative Strength Index (14) has a bearish feel heading towards the oversold region. The first support level could be located at $1000, and if this level is cleared, Ethereum can make an additional bearish cross below the lower boundary of the channel. Moreover, the critical support levels could be found at $800, $700, and $900 respectively.

When compares with BTC, the Ethereum price is still hovering below the 9-day and 21-day moving averages at 6988 SAT. However, the technical indicator Relative Strength (14) is moving to cross below the 40-level as bears remain the dominant of the market at the moment as the coin seems to be moving towards the south.

On the upside, any bullish movement above the upper boundary of the channel could push the coin to hit the resistance level of 7500 SAT. However, a lower sustainable move may delay the bullish pattern and this could attract a new seller into the market with the next focus at 6000 SAT and below.

Meanwhile, aside from the above analysis, the IMPT token presale is still live, and close to $13.5 million has been realized so far. In addition, the IMPT team has announced a giveaway promo of $100K IMPT. This is not something you may want to miss.

However, D2T token presale is also ongoing, and a novel platform like Dash 2 Trade would have red-flagged the FTX disaster. This is an innovative bundle of tools: analytics, metrics, signals, auto-trading, and analysis tools. Presently, the D2T presale is still on, as it has raised close to $7 million.

Related

Dash 2 Trade – High Potential Presale

• Active Presale Live Now – dash2trade.com
• Native Token of Crypto Signals Ecosystem
• KYC Verified & Audited