Ethereum Price Prediction: Moves Toward 50-day EMA At $2,880, Is $3,200 Next On Bull’s Radar?
Ethereum price extends the previous session gains on Wednesday. However, ETH is still hovering below the psychological $2,880 mark. Still, Ethereum’s price has room to go higher once a decisive close above the bearish slopping line extending from the highs of $4,759.
- Ethereum price creeps higher on Wednesday.
- The upside is capped near the descending trend line at $2,880.
- However, momentum oscillators tilt in favor of a bullish outlook in the short term.
As the U.S session begins the price experience some retracement from the higher levels but still trades with a positive bias.
Ethereum price still needs confirmation to move higher
Ethereum price is trading higher with significant gains but witnesses a little pullback from the higher levels. A continued buying pressure is required to close above the psychological $2,800 mark.
The upside momentum is expected to continue in the short term as buying pressure remains consistent. As a result, the first upside hurdle from the current levels could be located at $2,830. ETH price must give a daily close above this level along with above-average volumes.
Next, ETH bulls will face some resistance at the 50-day EMA (Exponential Moving Average) at $2,880.
Expect a windfall gain as the price will prepare for a jump to a $3,200 horizontal level following the attainment of $2,880 mark. This will be a crucial milestone for the bulls.
Investors will further look for additional gains toward the critical 200-EMA placed at $3,545.78.
On the flip side, a rejection toward the descending trend line will invalidate the bullish outlook for the asset. The immediate downside target could be found at $2,400.
Technical indicators:
RSI: The daily Relative Strength Index reads at 49 above the average line. However, the bullish divergence since February 22 capped the downside in the price.
MACD: The Moving Average Convergence Divergence (MACD) hovers below the midline with a neutral outlook.
- Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement
- ‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications
- Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model
- Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH
- Expert Predicts SHIB Rally as Shiba Inu Restores Shibarium After $4M Hack Shutdown
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying