- Relative Strength Index: The RSI is currently at a relatively high 60 points, meaning the market is somewhat overbought and we should expect a slight correction downards.
- Bollinger Bands: The price is within the BB range, yet it's still above the MA. This also means a slight retracement in the next few hours is likely.
- Volume: There is moderate to low amount of volume, which signals that the market can move a few percent in either direction and is not out of fuel.
Ethereum Price Prediction
In my previous Ethereum price prediction, I predicted that:
“ETH will stabilize around $170 and trade sideways for the next few hours.”
While Ethereum did have it’s dips and peaks, it looks like the $170 level is a favorite position for ETH. As such, I will continue with my prediction that ETH will once again dip to the $170 support level, before moving upwards to try and test the $180 support. If ETH can successfully hold $180, $190 will follow shortly after as ETH doesn’t like to trade sideways at the $180 level.
Read Full Ethereum Price Analysis and Prediction: NullTX
