Ethereum Price Prediction: ETH Crosses The $1,500 Psychological Level
Daily Ethereum ETH Technical Analysis
- Ethereum price has crossed over the 50-day SMA over the last two days.
- 20% of the total ETH supply has not moved on-chain in over 3 years.
Over the last five days, the Ethereum price had jumped from $1,420 to $1,560, gaining nearly $150 in overall valuation. As things stand, the smart contract leader has a strong resistance at $1,600, which it needs to conquer to move on.
Ethereum Price Crosses Over 50-day SMA
The Ethereum price has managed to cross over the $1,500 and $1,550 psychological levels. The relative strength index (RSI) is trending in the neutral zone, which shows that ETH has more space to grow.
Image: ETH/USD daily
Looking at the IOMAP, previously at the $1,600 barrier, 693,000 addresses had purchased 2.77 million ETH tokens. Following that, the other robust resistance is at the 20-day SMA ($1,700). On the downside, there are two healthy support walls at $1,450 and the 50-day SMA ($1,525).
Holders Holding On To Ether
Daily Gwei founder Anthony Sassano shared the chart above and observed that 20% of the total ETH supply has not moved on-chain in over 3 years. This means that the long-term holders have no intention of selling their tokens.
Ethereum Price Is Expected To Reach These Levels
Ethereum price is likely going to cross $1,600 and reach the 20-day SMA ($1,700) if the buyers remain in control.