Best Cryptocurrency Picks to Save Your Finance for an Uncertain Tomorrow (Part-1)
Ethereum Price Analysis: Gradual Rise Amid Caution
Ethereum has been fluctuating within a broad range from approximately $2,771 to $3,638 lately. This past week, the cryptocurrency experienced a decline of about 5.92%, with a larger drop of 13.19% over the past month. However, it has still managed to increase significantly, by over 100%, in the last six months. The recent price trends appear to be a correction following a period of substantial gains.
Looking forward, Ethereum presents prospects for growth, potentially reaching the initial resistance level of around $4,117. However, a cautious approach is advisable. A more distant resistance goal could be near $4,983. Conversely, support might be found near $2,384 if the price declines. An additional safety net is at approximately $1,517. Current indicators like the RSI show robust price momentum. Yet, the high Stochastic value warns that Ethereum might be overbought, suggesting a potential retracement in price.
