Ethereum has seen a rise in price following the year 2022. As the strongest altcoin, Ethereum reached $1900 again in recent days. Despite some minor downward pressure, Ethereum has been on an upward trend since the beginning of the month, trading within a wide range of $1800 to $1900 over the past few days.
Looking at the price chart of Ethereum, the MACD indicator is slightly bullish as it crossed above zero and has remained there for the past two weeks. The RSI has already surpassed 50, and the weekly moving average is seen at $1807. The 50-week moving average is slightly higher than $1807 and is likely to provide strong support if the price falls.
The price movement of Ethereum will be affected by future developments in the coming days. However, in a possible scenario of a downturn in the next few weeks, the price may drop to the range of $1700 to $1800.
This article is not investment advice. Anyone considering investing should do their own research and take their own risks.
