Ethereum Price Prediction as Bulls Push ETH Past $1,800 Resistance – Here's Where ETH is Heading Now

cryptonews.com:

The Ethereum price has risen by 2% in the past 24 hours, passing the $1,800 resistance level and preparing the ground for further gains in the coming days.

At $1,803, ETH is now up by 7% in a week and by 25% in a fortnight, with the biggest altcoin also having gained by 50% since the beginning of the year.

And with the Shanghai upgrade due on April 12, the ability to withdraw staked ETH is only likely to boost ETH's price in the medium- and long-term, given that staking will become more attractive to more investors.

ETH's chart suggests that the coin is still in the middle of a rally, with its indicators refusing to lose momentum.

Its relative strength index (purple) remains close to 60, after rising from 30 earlier in the month, with it having plenty of room left to rise further before ETH becomes overbought.

Similarly, ETH's 30-day moving average (red) continues to rise above its 200-day averagr (blue), showing no sign of stopping just yet.

And given that ETH has broken through the $1,800 resistance level, it could indeed progress to other levels in the coming days.

Yes, the wider market is currently in a mixed mood, what with Coinbase facing likely legal action from the SEC and the global financial system remaining under strain, but Ethereum's fundamentals continue to suggest that the altcoin is due further gains.

This is largely because of the aforementioned Shanghai update, which is already running on the Goerli testnet.

Shanghai will permit the withdrawal of staked ETH (including staking rewards), and while some have claimed that the update will result in a spike in selling pressure, the negative impact of the upgrade will actually be fairly contained.

Why? It's because withdrawals of staked ETH cannot happen at once, with