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Ethereum Could Outperform Bitcoin, Why ETH Could Rally To $1,500

Ethereum Could Outperform Bitcoin, Why ETH Could Rally To $1,500

Ethereum Could Outperform Bitcoin, Why ETH Could Rally To $1,500

Ethereum remains in a range above the $1,300 support against the US Dollar. ETH price is likely to gain momentum above $1,400 and $1,450 resistance levels in the near term.

— ETH price traded as high as $1,438 and before it corrected lower against the US Dollar.
— The price is consolidating above the $1,320 support level and the 100 simple moving average (4-hours).
— There is a key bullish trend line forming with support near $1,295 on the 4-hours chart of ETH/USD (data feed via Kraken).
— The pair is likely to accelerate higher after it breaches the $1,400 and $1,430 resistance levels.

Ethereum’s Ether Signaling Fresh Rally
This past week, bitcoin and ethereum saw a steady increase above $1,300 and $35,000 respectively against the US Dollar. BTC trimmed all its gains, whereas ETH remained well bid above the $1,300 support zone.

The recent high was formed near $1,438 before the price corrected lower. There was a break below the $1,380 support level. Ether price even traded below the 23.6% Fib retracement level of the upward move from the $1,207 swing low to $1,438 high.
Source: ETHUSD on TradingView.com
However, the price is consolidating above the $1,320 support level and the 100 simple moving average (4-hours). There is also a key bullish trend line forming with support near $1,295 on the 4-hours chart of ETH/USD.

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Abhishek Upadhyay

Abhishek Upadhyay

A B2B Content Writer with hands-on experience in various niches. Skilled in writing blog content, website content, SEO content & various marketing collaterals.

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