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Can ETH Regain $2000 level in Short-term
Eth is still trading below $2000 level and the coin can be bought for a quick target of $2000 for a small scalp trade.
In this article, we will look at ETH next target by looking at price chart and technicals.
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Ethereum Next Target- Price: $1,895.20
- 24-Hour Price Change: +$25.99 (+1.39%)
- Intraday High: $1,910.64
- Intraday Low: $1,825.98
Price is in a Downtrend, trading in a Channel Down pattern, which typically resolves in a bullish breakout. We wait for such breakout, which could signal at least a temporary trend reversal.
Buy Now Technical Indicators- 50-Day Simple Moving Average (SMA): $1,850.00
- 200-Day Simple Moving Average (SMA): $1,800.00
- 14-Day Relative Strength Index (RSI): 55.00
- Moving Average Convergence Divergence (MACD): +15.00
- Average Directional Index (ADX): 25.00
- Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down, Long-term trend is Strong Down.
- Momentum is Bearish but inflecting, which suggests that momentum could be nearing an upswing.
- Support and Resistance: Nearest Support Zone is $1,500.00. Nearest Resistance Zone is $2,150.00, then $2,400.00.
- Ethereum Price Rebound: Ethereum’s price rose 3.6% on March 8, reclaiming the $2,220 mark.
- Analyst Predicts Significant Surge: A notable crypto analyst predicts that Ethereum could reach $15,937 by May 2025. This projection is based on Ethereum’s consolidation within a three-year ascending triangle pattern, reminiscent of its 2016-2017 bull run.
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