Etherеum

Why Ethereum’s Price Could Skyrocket In The Coming Days

Ethereum (ETH), the largest altcoin by market cap, has seen its price rise 3.02% over the last 24 hours according to CoinMarketCap. In addition to climbing over the last 24 hours, ETH’s price has also risen 10.83% over the last week. As a result, ETH’s price currently stands at $1,295.98.

ETH was able to strengthen against the crypto market leader, Bitcoin (BTC), by 1.13%. Currently, 1 ETH token is worth 0.07485 BTC. The 24-hour trading volume for the altcoin was another metric that rose over the last 24 hours, as the total now stands at $5,780,369,836 following a 10.98% increase.

Daily chart for ETH/USDT (Source: CoinMarketCap)

The price of ETH has tapped the resistance level at $1,300 for the 5th time now and has once again been unable to break above the level. Another attempt at breaking this level could see the altcoin’s price skyrocket.

In addition to tapping the resistance level at $1,300 several times, the daily 9 EMA line has just crossed above the daily 20 EMA line. The daily RSI line is also sloped positively above the daily RSI SMA line. These technical indicators are bullish flags that suggest that ETH’s price is about to explode.

Twitter crypto analyst, IncomeSharks (@IncomeSharks), believes that a price surge for ETH is imminent given how many times the $1,300 resistance level has been tapped. The analyst shared in a tweet this morning that ETH will rise to $1,500 if it continues challenging the current resistance level.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

   

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