Ethereum Price Prediction: ETH Rockets Up 8% – $2,000 ETH Incoming?
The Ethereum price has risen to $1,815 today, gaining by 1.5% in 24 hours and 8.5% in the past week amid rising investor positivity.
ETH has also risen by 14.5% in the past fortnight, while the altcoin is up by 51% since the beginning of the year.
This makes it one of the best-performing major tokens since January, and with its fundamentals and momentum remaining strong, it could easily see additional gains in the coming days and weeks.
Ethereum’s indicators continue to look very strong, with both its relative strength index (purple) and 30-day moving average (yellow) signalling further rises.
Its RSI has risen back above 70 after dipping a little a few days, implying that buying pressure remains very much with the coin.
Likewise, ETH’s 30-day average is climbing strongly towards its 200-day average (blue), with conventional wisdom suggesting that the current rally won’t peak until the shorter term average is noticeably higher.
The coin’s support level (green) also points to additional rises, while this indicator also suggests that ETH won’t fall back down to its pre-rally level if it corrects in the near future.
ETH continues to be strong as a result of investor positivity regarding Bitcoin ETFs, with the SEC looking increasingly like it will approve a number of recent applications at the start of the next year.
Such positivity has fed into the rest of the market, with ETH recovering in the past week or so after investors spent a couple of months overselling it.
The coin’s fundamentals weighed heavily against the selling it witnessed, yet now it has moved into a position where it’s ready to make up for lost ground.
And it should rally more than pretty much any over alt if and when the Bitcoin ETFs are approved, and for
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