Ethereum Price analysis shows the pair has confidently breached the $1,700 barrier. The ETH/USD pair is holding higher lows as the weekend begins. The key resistance at $1,700 is now well below the current price, indicating that the bulls are firmly in control. But the seller won’t relinquish the power easily either, as the pair can’t get past his $1,750 barrier.
Weekends can see the volume drop and there is a tough fight between bulls and bears. The 20-day exponential moving average is sloping upwards, indicating confidence in the current price rally. The ethereum price The analysis further shows that the technical indicators are favoring the bulls on the hourly chart. If the price pulls above $1,700 at the end of the weekend, first he could surge to $1,890 and then he could surge towards $2,000.
Ethereum price movements over the last 24 hours: ETH is well above $ 1,700
Ethereum price analysis shows that the current rally, aided by the Federal Reserve rate hike, is on track over the weekend. The hourly chart shows muted price action taking over the chart. If volume drops sharply and bears emerge, it could move towards $1,590. A bear can enter the scene to close his position short and his traders can also book profits on the weekend.
If the bearish pull-down rebounds strongly again, it could be more likely to fall towards $ 1,500. The 20-day EMA has maintained around $ 1,500 for him, and if market sentiment turns negative, the pair could drop him to $ 1,280.
ETH / USD 4-hour chart: technical indicators support further rise
Ethereum price analysis shows that at the $1,750 price level, traders are booking some profits. As such, the price stalled at $1,700 and is now flat. Over the past three days, the price has risen by 33% and the bull has made a decent profit. However, buyers need to maintain their profits and generate further upward momentum.
Ethereum is breaking lows on the hourly chart. It shows that the power of volume is supporting the rise in prices. Due to minor integrations, prices can fluctuate between $ 1,700 and $ 1,640. Profit bookings appeared near $ 1,740 A rally towards $1,800 is still a stretched scenario. An RSI of 70 indicates that the pair has a consistent bullish wind below to support its bullish move.
Ethereum Price Analysis Conclusion: Buyers in Standby Mode
Large green daily candlesticks are all the signals bulls need on the weekends. If soaring, prices could soon exceed $ 1,800 for him. Such a sharp rise can brighten the mind, and ETH / USD could soon witness him at a psychological level of $ 2,000.
According to Ethereum price analysis, the pair needs to end the sideways move over the weekend. Otherwise, bears can quickly bring in the $ 1,650 level. There is a strong resistance zone that emerges near the $ 1,720 price level. Weekend macroeconomic news can also push up prices. So far, the breakout beyond the pole pattern shows that the Bulls have good control over Ethereum’s price analysis.
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