ETHEREUM price expectations: It reaches the highest levels in three weeks, $ 1900 on the horizon
The ETHEREUM price increased dramatically on Wednesday, as it was traded at $ 1815 after obtaining 3.3 % on the daily chart at the time of the press. The currency increased by 14.5 % last week, and this has built a bullish momentum that is likely to maintain ethics on the upward path in the near term.
According to Coinmarketcap data, ETHER trading volume increased by 63 % in the past 24 hours. This indicates that investors are ready to get the currency despite the high price, which raises the possibility of extended gains.
Institutional demand for ethereum in height. According to Coinglass data, Ethereum Spot ETF recorded $ 38.8 million of flows, which led to the suspension of six consecutive sessions without gains. Miscellaneous, that was the largest day flow in 53 trading sessions, confirming the possibility of achieving more gains according to the price of ETH.
Besides the stock exchange -based trading, Ethereum also witnessed that its performance is growing in the Defi sector. According to Defillalama data, the total value of Ethereum Chain Locked (TVL) is currently 50.01 billion dollars, after growing 12.4 % in the past 24 hours and 7.1 % last week. This indicates an increase in the benefit of ETH coins, which translates into better upward possibilities.
The ETHEREUM 75 is on the graph for 4 hours until this lines, indicating a strong upscale momentum within the peak purchase area. In addition, the average direction index (ADX) is on the same time frame at 26, adding weight to the potential continuation of the upward trend.
ETHEREUM price expectations
The ETHEREUM price is likely to last in the upward trend over the axis of $ 1,755, as RSI indicated. This momentum is likely to fulfill the initial resistance at $ 1,836. However, buyers can wipe this obstacle if their control extends. Such a step can take Ethusd higher for a $ 1905 test.
On the contrary, the procedure of $ 1755 will indicate control by the sellers. This first support can be seen at $ 1,675. The lower lower momentum will be broken to less than this level, which will nullify the bullish narration. In addition, this momentum can extend the losses to find the second support at $ 1602.
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