Ethereum Price Prediction: Market Recovery Determines Ethereum Prices for 8.8% Jump

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Brian Bollinger Ethereum Price Prediction. The Ethereum (ETH) price was in a consolidation phase. A long bullish candle breakout at $1300 ended the consolidation phase. This indicates that buyers are ready for a resumption of the previous recovery. Altcoin is currently in a retest stage, trying to achieve sustainability above the flipped resistance. AdvertisementKey points: A high momentum breakout at the $1300 resistance suggests that buyers are confident about reaching a higher price.
The RSI indicator measures the speed and magnitude an asset’s recent price movements. It has now risen to bullish territory.
Ether’s intraday trading volume is $9.1 billion, which indicates an 85% gain.
Source: TradingviewThe recent V-shaped recovery of the $1080 support has pushed Ethereum prices to $1300 local resistance. This altcoin was unable to overcome the resistance due to increasing uncertainty and went sideways for two weeks. The daily chart showed a narrow range between $1300 and $1240. This altcoin went sideways for around two weeks. This lower-than-expected CPI indicated a decrease in inflation and caused a price rebound in crypto markets. Trending StoriesThe Ethereum price rose 3.5% to $1319, currently. The Ethereum price rose 3.5% to $1319, after the long bullish candle broke the $1300 monthly resistance. This gives buyers a good footing to drive prices higher. A crossover of these slopes above and below the neutral line could accelerate the bullish momentum. AdvertisementEMAs: Today’s price spike exceeded the dynamic resistance of the 50-day EMA. This EMA could be used to support price recovery if the coin experienced a minor correction.
Trend: Bearish
Medium Volatility
Resistance level: $1300 and $1420
Support level: $1160 and $1100
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