Ethereum Price Prediction – ETH price action is very constricted during today’s trading. A primary reason for this consolidation goes beyond the volatility of yesterday’s trading. Moreover, there is a very tight $100 range above and below the $3,400 value area where Ethereum has a near equal opportunity to surge higher or plummet lower.
Ethereum overall trend favors the bulls, but bears have a strong case for a sell-off
Ethereum bulls have several technical factors favoring a resumption of the prior uptrend – the most important is the Chikou Span remaining above the candlesticks. The Relative Strenght Index is parked right on top of the first oversold condition in a bull market (50). The Composite Index has an almost imperceptible hidden bullish divergence level. To fulfill an apparent resumption of the move higher and move to new all-time highs, bulls need to push Ethereum’s price to a close above $3,530.