Ethereum’s prices started consolidating after the leading altcoin broke its upside trends. That led to mixed reactions as some investors feared that the asset would breach the $1.8K price level. On the other hand, some investors took advantage of the price actions, placing their bets at the $1,800 area. Those investors might smile today as Ether had its price crossing the $2,000 zone. Moreover, the altcoin looks to extend its increases. Are you planning to buy ETH?
Ethereum’s Momentum
Ether seemed to maintain its uptrends regardless of the crash the overall crypto market had recently. The alt switched back to an average increasing momentum. However, in June this year, ETH failed to extend its surges, dropping to the massive support area at $1,800.
Today, Ether’s price consolidated between the massive $1,780 yellow support and $2,330. Investors can take advantage of these price moves to day trade, activating price changes.
ETH Price Prediction
As mentioned earlier, day traders can now move to Ether. At the moment, the virtual coin has its prices consolidating, a lucrative indication. Such price consolidation usually denotes an incoming price boom coupled with reduced trading volume. For now, the alt has two set-ups developing:
The first development reflects near–term price actions, consisting of Ether buying activities at $2,130, its prevailing price. For now, investors can target the second target at $2,400 since the asset hits its first goal. Depending on your risk tolerance, a stop-loss can be near $2,050.
Another set-up will need multiple days to develop. It comprises of waiting for slightly lower adjustments or buying directly at $2,130, today’s value. A practical profit-taking zone lies near $2,800. That is because the asset has had its price retracing multiple times from this zone. Meanwhile, having a stop-loss around $1,900 is a sound approach in case prices dip. That way, investors can access lower prices.
For now, some market players believe that ETH is a secure bet. However, keep in mind that various factors determine that. Moreover, investing in the current market requires a certain level of risk tolerance.
Enjoy lucrative crypto undertakings.