October 21, 2021 / Analytics

Ethereum Price Analysis: ETH/USD Will Reach The Moon By The End Of 2021

Ethereum analysis forecast

Ethereum (ETH) cryptocurrency rate broke through the resistance zone around $ 4,000 and consolidated above this mark. Therefore, ETH/USD should rise to $ 4,700 by October 28.

Key Points

  • ETH is trading above the 100 hour moving average ($ 3,874).
  • On the hourly chart, a bullish trend line has formed with support at $ 3,800.
  • The nearest barrier to resistance is at $ 4,400.

The current uptrend started on September 30th. As a result of three impulse movements, Ethereum rose in price by 53%, and on October 21, the asset price reached its maximum value in the last five months – $ 4,248 (Bitstamp data).

ETH rate increased by at least 16% during the pump and then corrected, therefore, the upward movement is likely to last up to $ 4,700. After that, the price of the cryptocurrency will drop by about 8% – to $ 4,300-4,350. If the bullish trend fizzles out over the next two sessions, then the ETH rate will decline to the uptrend line, which runs at $ 3800. Then the asset will rise in price to $ 4,700.

eth chart

Ethereum Will Reach The Moon By The End Of 2021

Bitcoin (BTC) rate increased to $ 67,016 and renewed its all-time high on October 20. Drawing an analogy with the previous bull run, it can be assumed that the value of BTC will be pumped until the end of October. During this time, the price of Ethereum will rise at a slow pace, and an exponential rise in the rate of the coin will begin after the dump in the Bitcoin market.

eth chart

November and December should be the hottest months for ETH. During this period, the coin will rise in price by 150-180% from the bottom around $ 2,646. That is, by the end of the year, the Ethereum price will reach at least $ 6,600.

Elliott Wave Theory says that:

  • ETH price will begin to adjust from $ 4,700;
  • the fourth wave will end around $ 4,200;
  • during the fifth wave, the asset rate will skyrocket to $ 6,600.

eth chart

According to analyst Tony Spilotro, Bitcoin will rise in price to $ 130,000 by March 2022. The BTC dump will kick off the altcoin season, which will last about a month. During this time, Ethereum will leave Earth’s orbit in the range of $ 6,000-6,600 and land on the Moon, which is located in the zone from $ 16,900 to $ 17,500.

Technical indicators:

  • 4 hours MACD is in a bullish trend zone.
  • 4 hours RSI is above 70 (in the negative area).
  • Major Support Level – $ 3,800.
  • Major Resistance Level – $ 4,400.
  • The nearest pivot points are $ 4,087 and $ 4,330.
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