Ethereum Price Prediction: ETH Bounces Off Lows Near $2,500; Ready To Jump Toward $3,000?

Ethereum (ETH) price is hovering near $2,600 following three days of consecutive fall. EHT stabilizes after briefly falling below $2,500. In the previous attempt, the Ethereum price loose momentum as it approaches the mentioned level.

• Ethereum (ETH) price trades with modest gains after three days of fall.
• Expect a 12% upside from the current levels as price trades along ascending trend line.
• Upside remains capped near 200-EMA at $3,200.

The ascending trend line from the lows of January at $2,159 acts as a support for the bulls. Furthermore, the higher highs along with the bullish slopping line suggest ETH’s price could take a leap toward $3,000 once again.

However, investors must overcome the horizontal hurdle at $2,750 to pave a way toward the highs of March 2 at $3,045.00.

Technical Indicators:

RSI: The daily Relative Strength Index is making an effort to pierce above the average line. Any uptick in the indicator would seek upside momentum in the pair.

MACD: The Moving Average Convergence Divergence (MACD) is hovering below the midline with a neutral bias.

Volume: The Volume Flow indicator is trading in the oversold zone. Even, a slight pullback in the indicator will push the price higher.

Above, $3,000 Ethereum price shall encounter the strong resistance barrier placed at 200-day Exponential Moving Average (EMA) at $3,230.

Alternatively, if the price breaks the bullish slopping line then ETH price will test February lows at $2,300.

On the weekly chart, strong support is placed around $2,224.54. If a broken fresh round of selling will be triggered toward the lows of July at $1,718.

The second largets cryptocurrency holds 24-hour trading volume at $12,439,650,838 as per the CoinMarketCap. ETH was last seen trading at $2,644 with 0.87% gains.