Ethereum Price Is Heading Towards $1,432 Level

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Buyers’ momentum is increasing

Ethereum (ETHUSD) Price Analysis – 01 December

Ethereum’s price surpassed the barrier at the $1.237 level, and the Bulls may break up the $1,649 level and target $1,789. Failure to break up the $1.432 level may lead to a bearish movement toward $1,237, $1,086, and $987 support levels.

BTC/USD Market

Key Levels:

Supply Zones: $1,432, $1,649, $1,789

Demand Zones: $1,237, $1,086, $987

ETH/USD Long-term Trend: Bullish

Ethereum is bullish on the medium-term outlook. After the price retracement to the resistance level of $1,649, the Bears pushed the price to the $1,086 support level. The coin consolidated for many days at that level. On 21 November, the support level of $1,086 was retested a second time. Yesterday, the strong big bullish candle was produced and the bullish momentum increased and the price broke up at the $1,237 level, the bullish momentum is extending to the high of $1,432.

The Relative Strength Index period 14 is at 52 levels with the signal lines bending to the north which indicates a buy signal. The crypto is trading above the 21 periods EMA and 9 periods EMA at a distance from each other which indicates bullish pressure. Ethereum’s price surpassed the barrier at the $1.237 level, and the Bulls may break up the $1,649 level and target $1,789. Failure to break up the $1.432 level may lead to the bearish movement toward $1,237, $1,086, and $987 support levels.

ETH/USD Short-term Trend: Bullish

ETH price is bullish on the short-term outlook. The price action has formed a double bottom chart pattern on the 4-hour chart pattern; this is a bullish chart pattern and the price is increasing. The former resistance level of $1,237 has turned into a support level. The price is currently heading toward the resistance level of $1,432.

The crypto is trading above the 21-period EMA and 9-periods EMA with the two EMAs separate from each other which indicates that bullish movement is ongoing in the Ethereum market. The relative strength index period 14 is at 66 levels and the signal line exhibits a bullish trend.

You can purchase Lucky Block here. Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.