• Ethereum (ETH) has been trading between the $1,750 and $1,850 level over the last few weeks.
• The total cryptocurrency market cap has been hovering around the $1.1 trillion region during this period.
• The technical indicators show that ETH could rally higher in the near term and test the first major resistance level at $1,921 before the end of the day.
Ethereum Price Prediction
Ether, the second-largest cryptocurrency by market cap, has been underperforming in recent weeks. It has been trading between the $1,750 and $1,850 level over the past few weeks while the total cryptocurrency market cap stands around the $1.1 trillion region during that period. At press time, Ether’s price stands at $1,852 with a positive performance as sentiment in broader crypto markets improves.
Key Levels to Watch
The 4-hour chart for ETH/USD is looking bullish as Ethereum has been performing well over 24 hours. Technical indicators show that Ether could rally higher in near future with MACD line now within positive zone indicating bulls are currently in charge of market while 14-day RSI of 64 also shows that Ether could soon enter overbought region if rally continues. If current conditions persist then it is likely that ETH will test first major resistance level at $1921 before end of day but it may need support from broader crypto markets to reach second major resistance level at $2008 in near term.
Where to Buy Ethereum Now
Bitstamp is a leading cryptocurrency exchange which offers trading in popular cryptocurrencies or fiat currencies. Bitstamp provides users with access to low fees and reliable customer service making it one of most preferred exchanges among investors for buying Ethereum (ETH). Other popular exchanges where investors can buy ETH include Coinbase Pro and Binance which offer competitive rates on cryptocurrencies transactions among other features such as secure storage options and customer service support system .
Conclusion
Ether is yet to test 11 months high since reaching that level after Shanghai update but if current market conditions persist then it is likely that ETH will test first major resistance level at $1921 before end of day but may need support from broader crypto markets to reach second major resistance level at $2008 in near term . Investors looking for long-term investments can consider buying Ether through Bitstamp or any other reliable exchange platform which offers services such as low transaction fees , secure storage options and customer service support system .