• Ethereum price has risen above $1500 following the surge in Bitcoin’s price.
• Technical indicators suggest that the ETH price may enter a decisive phase soon, potentially leading to an upswing above $1700.
• The ETH is currently trading within stable conditions indicating a slower rise, while the dominance also indicates no major fluctuations.
Ethereum Makes a Comeback
The Ethereum price recently kicked off a fine upswing and reclaimed the levels it lost after the collapse of FTX exchange. It rose from $1540 to as high as $1600 before being stymied by bears just below $1700. This rebound was due to Bitcoin’s surge which lifted the entire crypto space out of its narrow ranges.
Will Ethereum Price Make it Above $1700?
Investors remain confused about whether or not Etherum will finally make it above $1700, with technicals pointing towards diverse conditions. Currently, buying pressure is increasing and as the price approaches this critical resistance level, there are hopes of a significant upswing close to $1800. A strong support base between $1650 and 1550 may be held if there is bearish reversal in future.
ETH Price Expected To Rise Slowly
The ETH has been trading within stable conditions for quite some time now and is expected to rise at a slower pace than usual. Moreover, its dominance has not fluctuated much over time which suggests that its short-term trend remains in range. Additionally, in daily time frames, ADX & RSI have displayed bullish divergence along with MACD flashing buy signal indicating consolidation for some time before entering decisive phase once again.
It appears that Ethereum will consolidate for some time before rising towards higher levels near or beyond $1700 depending on market conditions and investor sentiment over the coming days or weeks.. In such case, there may be strong support base between 1650-1550 which can help prevent any bearish reversal from occurring.
Although Ethereum price kick started with fine upswing making it close to 1700 levels after massive spike in Bitcoin prices, technicals point towards diverse conditions leaving investors confused about whether it will make it above 1700 or not? The recent rise in Bitcoin’s price helped all Etheruem but current pressure indicates an imminent upswing close to 1800 if things go well while strong support base between 1650-1550 might save any bearish reversal from occurring