Ethereum Price Prediction: ETH Price Retraced Toward 200-day EMA; Opportunity To Buy?
ETH price fell for the third session in a row. The price recovered from the lows and manages to trade above $3,300. Further, if the price holds above the critical 200-day EMA, it could be a hint for the next Bull Run.
- ETH price trades lower with modest losses.
- A retracement toward the 200-day EMA could be a stepping stone for the next run-up.
- The momentum oscillators turn neutral warning of aggressive bids.
As of press time, ETH/USD is trading at $3,341, down 1.92% for the day. The second-largest cryptocurrency is holding the 24-hour trading volume at $22,050,910,385 as per the CoinMarketCap.
ETH price trades downside
On the daily chart, the ETH price retraced from the swing highs of $3,581.60 made on April 3. Since then the price witnessed a descent of 9%. Currently, ETH trades near the critical resistance-turned-support level at around $3,300.
Now, a sustained bearish pressure will result in a pullback of the prices. Traders could find immediate support near the 200-day EMA (Exponential Moving Average) at $3,170.
The selling could intensify toward the horizontal support level at $3,000 if the price breaks the mentioned support level.
On the contrary, a spike in buy orders would reverse the prevailing trend in the asset. In that case, the ETH price keeps eye on the recent highs near $3,550.
An acceptance above $3,550 would set the ground for the next leg up in ETH.
Technical indicators:
RSI: The daily Relative Strength fell below the average line on April 4. Currently, it reads at 59. Any downtick in the indicator would strengthen the bearish outlook.
MACD: The Moving Average Convergence Divergence holds above the midline but with receding bullish momentum.
Trading volumes: The volume oscillator hovers toward the oversold zone.
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms
- Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing
- Trump Tariff Tensions Ease as U.S. and China Hold Positive Trade Talks Ahead of Oct 30 Summit
- Polymarket Hits $20B in Trading Volume, Announces Plans for Massive POLY Token Airdrop
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
