Ethereum Price Prediction: ETH bulls eye key hurdles above $1,700 during the latest recovery


  • ETH/USD rises for the second consecutive day, extends bounce off two-month-old support line.
  • 10-day, 21-day SMAs to probe the bulls before directing them to the record highs.
  • Bears need validation from 50-day SMA even if they conquer the key support line.

Ethereum bulls catch a breather around the intraday high of $1,660, currently up 1.25% around $1,645, during the early Thursday. In doing so, the altcoin manages to extend bounce off an ascending trend line from late-2020.

Although normal RSI conditions suggest further corrective pullback, 21-day and 10-day SMA levels, respectively near $1,780 and $1,800, will test the short-term bulls.

It should also be noted that the ETH/USD run-up past-$1,800 needs to cross the $2,000 threshold before targeting to refresh the recently flashed all-time high of $2,041.

Meanwhile, a daily closing below the stated support line, at $1,590 now, needs to break the 50-day SMA level of $1,497 to recall the ETH/USD sellers.

Following that, the latest swing low of $1,367 and the monthly low around $1,270 will lure the pessimists.

Overall, ETH/USD is up for corrective pullback but the bulls shouldn’t be careless.

ETH/USD daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 1646.32
Today Daily Change 21.02
Today Daily Change % 1.29%
Today daily open 1625.3
 
Trends
Daily SMA20 1784.1
Daily SMA50 1489.39
Daily SMA100 1060.17
Daily SMA200 725.38
 
Levels
Previous Daily High 1714
Previous Daily Low 1500.28
Previous Weekly High 1974.98
Previous Weekly Low 1659.93
Previous Monthly High 1477.3
Previous Monthly Low 715.22
Daily Fibonacci 38.2% 1632.36
Daily Fibonacci 61.8% 1581.92
Daily Pivot Point S1 1512.39
Daily Pivot Point S2 1399.47
Daily Pivot Point S3 1298.67
Daily Pivot Point R1 1726.11
Daily Pivot Point R2 1826.91
Daily Pivot Point R3 1939.83

 

 


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