Ethereum Price Prediction as Bulls Hold $2,000 Level – Where is ETH Heading Next?
The Ethereum price has dipped by nearly 0.5% in the past 24 hours, with the altcoin holding to the $2,051 level as the cryptocurrency market as a whole falls by 1% today.
Despite this loss, ETH remains up by 8.5% in a week and by 31% in the last 30 months, as ETF-related enthusiasm carries the altcoin and the wider market further.
ETH has also risen by 71% since the beginning of the year, and with the possibility of ETF approvals set to user in a bull market next year, it may resume rising strongly once its current dip is over.
Ethereum’s indicators continue to look strong, even with today’s little misstep.
The coin’s RSI (purple) remains above 70, indicating considerable buying pressure that could help it rise again quickly in the next few days.
More bullishly, ETH’s 30-day average (yellow) recently climbed over its 200-day average (blue), forming a ‘golden cross’ that often signals breakouts.
As such, it may still be the case that ETH is on the brink of much bigger rises than it has enjoyed in the past couple of weeks.
Indeed, its 24-hour trading volume remains comfortably above $21 billion, having stood at around $3 billion in the middle of October.
This indicates that investors are still very much interested in ETH, with a number of large transfers in the past couple of days showing that some whales are still moving the altcoin off exchanges.
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