Ether price prediction

Ether price prediction

Ether started the next leg of the uptrend on Tuesday after buyers pushed the price above $4,366.

The upsloping moving averages and the RSI in the overbought zone suggest that the path of least resistance is to the upside. Buyers will try to strengthen their position by pushing the ETH/USDT pair toward $4,868.

The $4,094 level is the crucial support to watch out for on the downside. A break and close below $4,094 indicates profit-booking at higher levels. Ether’s price could then plunge to the 20-day SMA ($3,833).

The pullback from $4,366 took support at the 20-SMA on the 4-hour chart, indicating a positive sentiment. The pair could rally to $4,500 and then to $4,868, where the bears are expected to pose a substantial challenge.

A break and close below the 20-SMA could pull the pair to $4,094. A solid bounce off $4,094 suggests the bulls are trying to flip the level into support. That increases the likelihood of the continuation of the uptrend. A deeper pullback could start if the $4,094 support cracks.