• Ethereum (ETH) price is expected to rise beyond $1300 in the next few days, reaching the crucial resistance levels.
• Volatility of the second largest crypto has slashed heavily and reached rock bottom levels, indicating the possibility of a trend reversal soon.
• Markets are consolidating within a narrow range but are displaying chances of a notable upswing in the next 24 to 48 hours.
The cryptocurrency market is on an upward trend and Ethereum (ETH) is set to follow suit. With the leading cryptocurrency, Bitcoin, heading towards $17,000, Ethereum is expected to gain momentum and rise above the $1300 mark. Currently, the ETH price is being sustained above the $1240 support, with the possibility of reaching towards the $1500 level.
The volatility of the second largest cryptocurrency has dropped significantly, leading to conjecture that a trend reversal is on the horizon. Analysts are predicting that the ETH price could reach the $1300 level in the next few days, and could even rise up to the $1500 level in the near future. The current market setup is displaying signs of a possible upswing within the next 24 to 48 hours.
The bulls are currently in control of the market, with the bears being pushed back. However, it remains to be seen if the bullish momentum can be sustained and if Ethereum can reach the $1500 mark. If the ETH price falls back below the $1240 support level, then it could lead to a sharp correction in the price.
Overall, the Ethereum market appears to be headed towards a positive trend. With Bitcoin’s price making new highs, Ethereum is expected to follow suit and reach the crucial resistance levels in the near future. Although there are still risks associated with the market, analysts are confident that the bullish momentum will be maintained and the ETH price will rise beyond $1300 in the coming days.