As Ethereum continues to wage a battle to remain afloat around the $1,800 psychological level, traders and investors are anticipatively watching how the market's second-largest asset by market cap may potentially perform. Recent closing prices at key levels are essential indicators of the future of Ethereum. The crucial level of support at $1,671 denotes a point at which the demand has previously been strong enough to prevent Ethereum prices from falling. If the price of ETH remains above this level, it may denote that the demand is still high and boost the crypto's future performance.

Conversely, the resistance level at $1,911 also serves as a potential challenge for Ethereum's success. This price point has been hard to surpass of late, which could mean reversal for the crypto's upward trend and downturn in price. According to machine learning algorithms at the crypto tracking platform PricePredictions, ETH can be expected to reach the trading price of $1,823 by April 30, 2023. This estimation relies on the use of technical analysis tools such as moving averages, relative strength index, and Bollinger Bands.

At present, Ethereum is trading at $1,806, showing a decline of 0.92% during the day, yet a mark of 2.94% growth in the course of the week. TradingView, a finance and crypto monitoring website, gives a bullish sentiment for ETH, with 'buy' signals being produced by oscillators and moving averages rating 'strong buy'.

Despite several restrictive measures taken in the US as well as a failed attempt by FTX, Ethereum prices have more than doubled since lately June when the crypto was priced around $880. While investors can't be sure of exactly what the future holds, a mix of on-chain and technical evidence point to bullish forecasts for Ethereum in the near to medium term.



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