Most major cryptocurrencies, including Bitcoin and Ethereum, have seen their prices fall in recent days. Due to this, Bitcoin has already gone below $22,000, continuing its downward trajectory, and the market capitalization of all cryptocurrencies is getting close to $1 trillion.
The US CPI numbers, which could result in big price changes in the cryptocurrency market, will continue to be the market’s main concern as the day goes on.
Today’s Ethereum Price
| DATE | ETC | USD |
|---|---|---|
| Today | 01 | $ 1,579.51 |
Ethereum Price Prediction
Ethereum’s current live price is $1,500, with a $8.1 billion 24-hour trading volume. With a live market cap of $183.78 billion, CoinMarketCap currently ranks 2 in the world.
The 38.2% Fibonacci retracement level of $1,500, which also serves as a double-bottom support level, is where Ethereum is currently trading. There is a chance for an upswing to reach the $1,560 mark if the candles close above $1,500.
An earlier break in an upward channel is what caused the current resistance level. ETH might reach the $1,600 or $1,680 mark if it breaks above $1,560.
Breaking through the $1,560 mark would support the maintenance of Ethereum prices and improve trading chances for ETH. If this is not done, ETH prices can fall, possibly all the way to $1,435 level.
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