Ethereum Price Prediction: ETH Goes Through A Period Of Low Volatility
Daily Ethereum ETH Technical Analysis
- The MACD shows increasing bearish momentum.
- The Bollinger band has started narrowing.
Over the last seven days, the Ethereum price is hovering around the $1,800 resistance barrier. As things stand, ETH is hovering horizontally between key levels.
The Ethereum Price Hovers Horizontally Below $1,800
As per technical analysis, the Ethereum price is stuck between the $1,800 resistance line and the 20-day SMA. The MACD shows increasing bearish market momentum, so it looks very unlikely that ETH is going to cross above $1,800. The Bollinger band has started contracting, which shows decreasing price volatility.
Image: ETH/USD daily
The $1,800 resistance barrier is pretty strong since 966,000 addresses had previously purchased almost 14.5 million ETH tokens at this level. This level is robust enough to absorb a lot of buying pressure.
Ratio of Ethereum On Exchanges Going Down
Santiment noted on twitter that the total supply of Ethereum in exchanges is at a 28-month low:
“#Ethereum's ratio of token supply on exchanges (20.1%) is now sitting at a 28-month low. We generally look for relative drops in exchange supply compared to previous months as an indication of safety from major isolated selloffs for #crypto assets.”
Rich Dad Poor Dad Author Is Buying Bitcoin and Ethereum
Rich Dad Poor Dad author Robert Kiyosaki recently said that he is purchasing Bitcoin, Ether and precious metals as the economy weakens. In a recent Rich Dad Radio Show podcast episode, Kiyosaki said that he does not wish to argue over which store of value asset is superior. However, he is currently scrambling to own as much BTC, ETH and gold as he can.
So I’m just grateful I have a lot of gold, silver, Bitcoin and Ethereum and I don’t get into the argument...We’re screwed. Our whole economy is screwed. We’re so deeply in debt, it’s like sinking into quicksand right and you’re arguing about gold, silver, Bitcoin. Just buy something.
Last year, Kiyosaki predicted Bitcoin would break the $50,000 level in 2021. He said that he did not base the bet on the strength of Bitcoin, but the weakness of the US economy and government.
I’m not judging Bitcoin. I’m judging the stupidity of our government. Being a real estate guy when I look at how much debt is going to default, the question is, when all those office buildings around San Francisco can’t pay their rent, who’s going to bail them out? That’s why I put my $50,000 bet. It was a bet against the economy. It wasn’t a bet on Bitcoin. And I’m betting [the Federal Reserve] is going to print [more money] and if they don’t print we’re screwed anyway.
Ethereum Price Is Expected To Reach These Levels
Ethereum price will likely keep trending between $1,800 and the 20-day SMA.