Ethereum Price Prediction – September 3
The Ethereum price prediction is seen breaking above the $3900 resistance level as the coin focus on the $4000 resistance level.
ETH/USD Market
Key Levels:
Resistance levels: $4400, $4600, $4800
Support levels: $3200, $3000, $2800
ETH/USD is seen refreshing to a new high after touching the daily low of $3710 to breaches above $3900 while currently trading at $3951 with a bullish crossover above the upper boundary of the channel. However, the seller may make an attempt to return back into the market but the bulls are likely to collect more on the price dips.
Ethereum Price Prediction: Ethereum Price Continues to Push Higher
The Ethereum price can only maintain the uptrend if the newly touched $3900 support level is maintained at all costs. At the moment, the technical indicator Relative Strength index (14) is seen moving into the overbought region by creating more bullish signals into the market and this could encourage more buyers to enter the market. However, Ethereum (ETH) is now trying to maintain an uptrend above the channel.
However, as long as the red line of the 9-day MA remains above the green line of the 21-day MA, the coin may continue to perform well and the price of Ethereum may reach the resistance levels at $4,400, $4,600, and $4,800 respectively. More so, if the technical indicator decides to make a quick turn back below the 9-day and 21-day moving averages, then, there may be a quick bearish drop which may likely roll the market down to the support levels of $3200, $3000, and $2800 respectively.
When compares with Bitcoin, Ethereum is trading well above the 9-day and 21-day moving averages as the price hovers at 7917 SAT. More, the technical indicator Relative Strength Index (14) remains within the overbought condition as the market price continues to rise; the pair appears to be moving within the upper boundary of the channel.
Moreover, as seen on the daily chart, the potential resistance level is located at 8400 SAT and above but a lower sustainable move may likely cancel the bullish pattern which could attract new sellers coming into the market with the next focus on the support level of 7300 SAT and below.
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