Opinion & Analysis

Ethereum (ETH) Stretches Above $1200 with Spiking Demand

Ethereum hits the target of $1000 and trades even higher at $1256, at the time of writing with a straight bullish candle stretched right from $713 to $1294 on the 7-day chart. However, ETH’s ATH back in 2017 was above $1400 at $1425, and the coin is yet to break the same price area. But with Bitcoin trading at its All-Time High Price marks, the largest altcoin by market capitalization is also luring massive momentum.

As per the recent Ethereum price prediction, the coin gained a spiking momentum right from September 2020 and is holding until the time of writing. The All-Time High price of ETH is definitely in reach, and with the same traction, the coin can trade even higher, just like Bitcoin flagging 100% above its previous ATH of 2017.

Ethereum Price Analysis

Ethereum News

At the press time, Ethereum price was spotted above $1250 and crossing the upper Bollinger Band on the 7-day chart. As the Bollinger Bands widen, there is a greater possibility of widening bullish volatility in the near-term. In this regard, the ETH coin retains support from 50-day and 200-day weekly MA at $370 and $322.

Following the traction of Bitcoin, Ethereum is not trading any lesser than the former and holds strong technical bullish divergence. The MACD draws a clear bullish crossover as the MACD line crosses above the signal line and the RSI stretches above 70 to lie at 88.30 due to the amplified demand of the crypto.


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