Ethereum Price Prediction

Ethereum’s market price, which is at $1,529.25 with a $10 billion trading volume, has decreased by 4% during the past 24 hours. Despite this, the digital asset is still one among the most valuable and actively traded cryptocurrencies.

According to sources, Ethereum is presently ranked second and has a live market value of 187 billion USD. There are currently 122,373,866 ETH coins in circulation, and the maximum supply has not yet been determined.

Strong bearish sentiment has prevented the ETH/USD pair from breaking through the $1,600 double top resistance barrier, which has caused its value to drop to $1,500.

Currently, $1,500 is Ethereum’s most crucial support level. On the basis of its 38.2% Fibonacci retracement, the selling pressure will probably intensify if this falls down and reach $1,440. If it is also broken, ETH can fall even lower than $1,350 and find itself in a tight spot.

A break of the $1,500 support level is likely to result in a rise to the $1,660 level, which will act as a resistance level.

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