ETH/USD Could Slide Below $1200

The Ethereum price prediction shows that ETH sits at a crucial support level that could determine where the coin will be heading in the next negative move.

Ethereum (ETH) Statistics Data:

• Ethereum price now – $1,256
• Ethereum market cap – $156.3 billion
• Ethereum circulating supply – 122.3 million
• Ethereum total supply – 122.3 million
• Ethereum Coinmarketcap ranking – #2

ETH/USD Market

Key Levels:

Resistance levels: $1800, $2000, $2200

Support levels: $800, $600, $400

At the time of writing, ETH/USD follows in the footsteps of the flagship cryptocurrency as the coin is dropping under the 9-day and 21-day moving averages. The Ethereum price failed to create a new high above the resistance level of $1300. However, if there is short-term selling pressure, Ethereum could most likely tackle it and make a comeback at the level mentioned above.

Ethereum Price Prediction: Ethereum (ETH) May Go Lower

According to the daily chart, the Ethereum price experiences a slight spike in profit-taking after creating a daily high above $1300. However, the increasing selling pressure, therefore, could bring the price to touch a new low at $1100. Meanwhile, as the red line of the 9-day moving average crosses below the green line of the 21-day moving average, the Ethereum (ETH) could slide and face the lower boundary of the channel, The Relative Strength Index (14) confirms the bearish movement as the signal line moves to cross below the 40-level.

In the meantime, if the sellers could manage to maintain the bearish momentum, a serious downward movement could keep the Ethereum price below the moving averages as the coin could hit the support levels of $800, $600, and $400 respectively. Therefore, any failure to cross below the lower boundary of the channel could push the Ethereum (ETH) to the upside. However, the upswing may trigger a buy above the 9-day and 21-day moving averages which could reach the resistance levels of $1800, $2000, and $2200.

Against Bitcoin, the next positive direction reveals a bullish movement as the Ethereum price crosses above the 9-day and 21-day moving averages. However, the Relative Strength Index (14) is now seen moving to cross above the 50-level, suggesting more bullish signals.

By observing the technical indicator, the Relative Strength Index (14) is heading to the upside, the coin is now moving towards the upper boundary of the channel to hit the resistance level of 9000 SAT and above but should in case the bulls failed, sellers can use the opportunity to bring the coin to the support level of 6100 SAT and below.

IMPT Presale Is Still Very Hot

The Impact project aims to change the way carbon credits are managed. It currently acts as a crossroads between the ESG industry and the cryptocurrency world. Meanwhile, the IMPT pre-sale is underway, raising over $12 million in just a few weeks.

D2T Token Price Is a Good Bargain

The pre-sale of Dash 2 Trade is currently selling fast and the price is still very low. The token raises over $5 million for the future development of the platform.

Related:

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