Finally, Ether (ETH) is also experiencing a surge in value for the past 7-days. This is a positive sign for the investors as they can now back the bulls and this would result in pushing the price of Ether to a value track.
Ether Bulls Sustaining Pressure from Bears
At present, the price of Ether is over a resistance and it is one of the most critical moments for Ether. Ever since the price of Ether has hit and cross the resistance line, they have been facing a lot of pressure from the bears.
The bulls are trying their best to sustain the strong selling pressure from the bears. At present, the bears are also demonstrating high selling potential. The performance graph for Ether is showing a candlestick pattern, which suggests that the bears are not giving up on their stance.
They have been selling Ether on every rally formed by the bulls. For now, they are trying to shut down rallies that are formed on higher levels.
Technical Indicators Indicate a Bullish Trend
As of now, the relative strength index and moving averages for Ether have experienced a successful transition into the bullish zone. This means that Ether is destined to move into the bullish zone in the upcoming days.
The trend has made it clear that Ether may continue rising more into the resistance zone and may continue traveling there. If the bullish trend continues growing stronger, the price of Ether may move towards high gains.
In the upcoming days, the price of Ether may grow up to a high price of $3,500 per ETH. As more investors start investing in Ether, then its price may grow even higher.
Initially, the bulls may face resistance from the bears but if they are able to sustain pressure from their end, they may push the price of Ether to a higher mark.
The next resistance mark the bulls may try and hit with their strong acquisition power would be $3,720. This may increase the determination level of the bulls and they may start acquiring more Ether, resulting in pushing the price of Ether to a major resistance level ($3,907 per ETH).
The Bearish Attempt on Ether
On the other hand, if the price of Ether rebounds, then the bears may attempt to pull Ether back to the moving averages. This would pull the price of Ether below the $3,000 mark. If that happens, then the price of Ether may get pulled even lower.
As the RSI also moves lower into the negative trend, the price of Ether may move down to $2,820 per ETH. If the bears keep exerting high selling pressure, then the price of Ether may get pushed down to $2,610 per ETH.