The Ethereum price has often tested the support zone between $1,700 and $2,000 in the past. Always after the price tested the support zone, the price surged to $4,444. There is the next larger resistance. Since the price has always risen to $4,444, we assume that we are in a sideways phase. This sideways phase is between $4,444 and $1,700 – $2,000. Having reached the lower part of the phase, our overarching view is now that the Ethereum price will rally to around $4,000. However, a short-term crash from the sideways phase cannot be ruled out. If you would like more information on this, read our latest Bitcoin forecast (click here)
We expect an increase in the short term as well as in the long term. We expect the price to rally to around $2,300 in the next few days. This is the least we expect from the Ethereum price. A rise to around $2,500 is also possible. That is where the next resistance is after $2,300 is broken. After that, however, we assume prices will fall for the time being, which is not necessarily bearish.
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