Ethereum [ETH] the 2nd largest cryptocurrency by market capitalization now seems to be in a bearish move. Ethereum is trading at $233.64 USD (-4.85%) and the market capitalization at the time of writing this post is $23,868,033,138 USD as per Coinmarketcap. The 24h high for ETH is 246.83 and 24h low for ETH is 229.09.
Ethereum Price Prediction and Technical Analysis
Here we will do the analysis based on 1-day and 1h price forecast. So let’s start the analysis based on SMA, EMA, MACD Level, RSI, and other technicals.
1-day Price Forecast
The 10-day Exponential Moving Average is 228.77 and 10-day Simple Moving Average is 224.85. Both the EMA (10) and SMA (10) is indicating a buy signal. Also, the EMA (20) and SMA (20) is indicating towards a buy signal. But while looking at the EMA (30, 50, 100, 200) and SMA (30, 50, 100, 200), these are still to be achieved.
The Volume Weighted Moving Average (20) for ETH is 212.76 and the Hull Moving Average (9) is 250.30.
Let’s have a look at the Oscillators the Relative Strength Index (14) is 40 which is in the Neutral zone and the MACD Level (12, 27) is -10.49 indicating a buying signal. The Momentum (10) is also indicating towards buying with a value of 25.64
1-h Price Forecast
The Exponential Moving Average (10) is 236.16 while Simple Moving Average (10) is 236.59 both of them depicting selling. Not only this all other EMA (20, 30, 50) and SMA (20, 30, 50) indicating towards selling.
Now let’s have a look at the oscillators, the Relative Strength Index (14) is 39.63 and is currently in the Neutral Zone. The MACD Level (12, 27) is -2.32 indicating a sell signal. The Momentum (10) which is -10.38 depicting towards selling.
This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.
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