ETH Price Prediction: Today’s Ethereum Price, 1st April 2023

Ethereum, the cryptocurrency powering the most popular smart contracts platform in the world, is holding steady at $1,800 as it eagerly anticipates the publication of significant economic data.

Similar to how Bitcoin performed in March, the price of Ethereum surged dramatically before hitting $1,850 as support.

Hours away from the holiday, ETH is trading at $1,807, demonstrating impressive resiliency.

Particularly as US stock markets get ready to open, market observers expect potential volatility in reaction to Friday’s Personal Consumption Expenditures (PCE) data release.

The Federal Reserve uses the PCE as a primary inflation indicator when formulating important monetary policy choices.

TODAY’S ETHEREUM PRICE

The position of the Moving Average Convergence Divergence (MACD) on the same daily chart indicates that the upward path currently faces the least amount of opposition.

Although the MACD on the daily timeframe chart has not yet validated a buy signal, its position above the mean line suggests a bullish result is very likely.

The price of Ethereum has produced a bullish engulfing candle on the four-hour time period, aiming for immediate resistance at $1,850.

Similar to the daily chart, the 50 EMA, 100 EMA, and 200 EMA are all placed above the ETH price.

The positive hold on Ether is strengthened as it recovers thanks to the On-Balance-Volume (OBV) indicator, which tracks volume and overlays the chart like the Relative Strength Index (RSI).

Therefore, Ethereum has enough impetus to overcome resistance at $1,850 because inflow volume is greater than outflow volume.

The Ethereum price guaranteed investors that it is in an uptrend and is not about to stall by holding above $1,800 on Thursday.

To overcome the following obstacle at $2,000, investors must breach and hold above $1,850. This is the next and most crucial confirmation.

In the event that Ethereum succumbs to the seller congestion at $1,850, a decline to $1,800 would open up new liquidity for a stronger recovery to $2,000 in the future.

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