Ethereum Price Prediction as $10 Billion Comes In – Time to Buy?
The Ethereum price has held still in the past 24 hours, although the altcoin has risen by 0.5% in the past hour.
This may signal an incoming rally, and with ETH standing at $1,889, it has already gained 4% in a week and by 15% in the last 30 days.
It’s also attracting trading volume in excess of $10 billion, representing a marked increase to the lower levels (e.g. as low as $3 billion) it saw in early October.
As such, now may be a good time to buy, before the next potential bull market really kicks in.
The Ethereum price may have dipped in the past day, but its overall momentum remains largely strong.
Its relative strength index (purple) continues to hover above 70, signalling good buying pressure that’s supporting the coin’s price.
Likewise, ETH’s 30-day average (yellow) is rising quickly towards its 200-day (blue), with a potential golden cross likely to indicate a breakout in the next few days.
The other major bullish sign is ETH’s support level (green), which has reached much higher levels in the past couple of weeks.
This would suggest that ETH is unlikely to fall below $1,800 again, and with its trading volume remaining relatively elevated, it could easily further gains in the coming days and weeks.
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