Ethereum Price Prediction: ETH makes incredible strides toward $2,550 record highs

Published April 22, 2021 | Updated April 22, 2021


Ethereum Price Prediction: ETH makes incredible strides toward $2,550 record highs

  • Ethereum ignores crypto selloff to post considerable single-digit gains toward $2,550.
  • The MACD and the RSI affirm the bullish outlook in the near term.

Ethereum is among the best-performing digital assets in the cryptocurrency market following the retreat from record highs of $2,550. The pioneer smart contract token tested support at $2,000 twice before staging the ongoing recovery mission.

Several resistance levels have been overcome, including the 100 Simple Moving Average (SMA) at $2,200, the 50 SMA and $2,400. At the time of writing, ETH dances at $2,415 while bulls fight for a breakout past $2,500.

The immediate downside is supported by the 50 SMA, allowing bulls to focus on higher price levels. The bullish outlook has been reinforced by the Moving Average Convergence Divergence (MACD). The confirmation appeared after the MACD line crossed above the signal line, besides the indicator has reentered the positive region.

Consequently, the Relative Strength Index (RSI) on the four-hour chart affirms that the trend is in the bulls’ hands. This indicator follows the movement of an asset and measures its strength. As it closes the gap toward the overbought region, Ethereum’s uptrend becomes apparent.

A break above $2,500 would be a significant signal for more buyers to join the market. If enough buying pressure is created behind ETH, the price will begin the next chapter of the run to new all-time highs around $3,000.

ETH/USD four-hour chart

ETH/USD price chart
ETH/USD price chart by Tradingview

It is worth mentioning that closing the under $2,500 would lead to an increase in overhead pressure. Besides, the position above the 50 SMA must be sustained; otherwise, Ethereum may freefall to retest support at $2,200 and $2,000, respectively.

Ethereum intraday levels


Spot rate: $2,415

Trend: High

Volatility: High

Support: 50 SMA, $2,200 and $2,000

Resistance: $2,500 and $2,550

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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John Isige 1053 Articles
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