Ethereum Price Predictions: Ethereum Attempts to Move Towards $3,470
Ethereum saw $56.3 million in liquidations over the past 24 hours, with a long liquidation of $31.8 million.
Ethereum is trying to make another move towards resistance at $3,470, which is near the 200-day and 100-day exponential moving averages. This move comes after seeing rejection near the 50-day exponential moving average on Tuesday.
Ethereum could rise towards $3,800 if it can maintain steady movement above all key moving averages. Furthermore, it could reclaim $4,000 if it successfully breaks above the $3,800 level.
On the downside, Ethereum may find support near $3,100, around the 20-day exponential moving average. The major altcoin could drop towards $2,850 if it falls below $3,100 and the ascending support line.
The Relative Strength Index (RSI) is above neutral while the Stochastic indicator has exceeded overbought conditions. This indicates rising bullish momentum, but there is a chance for a short-term pullback as the Stochastic is in the overbought territory.$ETH $ETH
