Ethereum (ETH) Price Analysis: Ether Attempts to Breaks Its Price Level at $838 of April 2018

Ethereum (ETH) Price Analysis: Ether Attempts to Breaks Its Price Level at $838 of April 2018

Key Highlights
Ether breaks the $660 resistance, reaches the high of $757
Ethereum has a target price of $838

Ethereum ETH) Current Statistics
The current price: $744.23
Market Capitalization: $84,886,671,193
Trading Volume: $17,074,355,224
Major supply zones: $800, $820, $840
Major demand zones: $360, $340, $320

Ethereum (ETH) Price Analysis December 30, 2020
Ethereum bulls have continued to push on the upside as the coin reaches the high of $757. The biggest altcoin faces rejection as it tests the $760 resistance zone.

It is assumed that if it breaks the $760 resistance zone, the coin will attain the $838 price level of April 2018. Conversely, if the bulls fail to break this resistance level, the coin will be compelled to a sideways move. Alternatively, if Ether falls and breaks below $700, the downtrend will resume.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum has continued to remain above the 80% range of the daily stochastic. It indicates that the coin is in the overbought region of the market. In a strong trending market, the overbought condition may not hold. The RSI is at level 68 which indicates that the crypto has no enough room to rally on the upside.

ETH/USD – 4 Hour Chart

Conclusion
The biggest altcoin is in an upward move. The Fibonacci tool has indicated the upward movement of the coin. The coin has broken the $660 resistance. On November 23 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. It indicates that the market will rise to level 2.0 Fibonacci extensions or the high of $806.19.


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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.