https://ift.tt/3sYOdHw Price Prediction: ETH/USD Settles Above $3800

Ethereum Price Prediction – January 4

The Ethereum price prediction is currently pushing through the $3800 resistance but still falls below the moving averages.

ETH/USD Market

Key Levels:

Resistance levels: $4200, $4400, $4600

Support levels: $3400, $3200, $3000

ETH/USD begins a fresh increase from the $3714 support zone as the price continues to rise above the 9-day moving averages; it is likely for the crypto to accelerate higher if it breaks the $3900 resistance level. For a couple of days, Ethereum consolidated the accrued gains within the moving averages but further bullish wave could place the Ethereum price on a recovery trajectory, pushing the price above the crucial $3800 level.

Ethereum Price Prediction: How Far Can the Ethereum Price Go?

At the time of writing, the Ethereum price is trading at $3823 after adding 1.51% onto its value. The strength of the coin is likely to open the door for a massive recovery movement targeting $3900. However, the potential resistance at $4000 must be reached to pave the way for the impending action.

Meanwhile, from a technical perspective, ETH/USD is capable of tackling the hurdles above the 9-day and 21-day moving averages as the Relative Strength Index (14) prepares for the upside. It seems like the bulls may aim for a clear break to the upside as the coin could hit the resistance levels of $4200, $4400, and $4600. In the event a reversal ensues, traders should be alert for various supports below the lower boundary of the channel as other key support levels could be located at $3400, $3200, and $3000 respectively.

Against Bitcoin, the market keeps moving within the ascending movement, currently trading at 8254 SAT and expecting a break towards the upper boundary of the channel. Looking at the daily chart, we can see that the bulls continue to take control of the market and the next key resistance level may likely come at 8700 SAT and above.

ETHBTC – Daily Chart

Meanwhile, on the downside, a possible drop could bring the market below the 9-day and 21-day moving averages which could hit the support level at 7600 SAT and below. According to the Relative Strength Index (14), the signal line is likely to cross above 60-level, which could trigger more bullish signals in the market.

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