Category: Crypto News

Experts Release ETH:USD Technical Analysis- Buy or Sell?

By Published On: April 11, 20244.6 min readViews: 2300 Comments on Experts Release ETH:USD Technical Analysis- Buy or Sell?

Ethereum (ETH) is caught in the middle of a crossroad and every crypto-savvy investor wants to know if it can successfully break the tough resistance at $4,000.00 soon. Traders Union’s ETH/USD analysis is a key information to figure out the answer to this question, using various technical analysis tools for accurate short and long term price projection. 

Technical analysis for Ethereum (ETH)

Ethereum has been one of the most successful blockchain projects to ever exist since Bitcoin. Since its launch in 2015, the project has made a name in the smart contract space, known for real decentralization, high security, and better scalability. 

Recently, it is topping back on the charts of the most-traded cryptocurrencies as Bitcoin clinches a new all-time high, being the second largest crypto by market capitalization next to BTC. With the positive momentum going on, Traders Union’s verdict on the ETH/USD price shows a ‘Strong Buy’ rating at its current price of $3,990.00. This evaluation stems from a thorough ETH/USD technical analysis conducted by experts, ensuring a precise forecast amid market fluctuations.

  • Relative Strength Index (RSI) – buy 
  • Commodity Channel Index (CCI) – overbought
  • Awesome Oscillator – buy
  • Momentum – strong buy
  • Average Directional Index (ADX) – buy
  • Moving Average Convergence Divergence (MACD) – buy
  • Williams %R – oversold 
  • Ultimate Oscillator – overbought
  • Bull Bear Power – neutral
  • Stochastic Relative Strength Index – overbought
  • Hull Moving Average (HMA) – neutral
  • Ichimoku – buy
  • Percentage Price Oscillator (PPO) – buy

ETH/USD price prediction

Ethereum bulls are facing a tough resistance at the $4,000.00, a level that has not appeared on its charts since December 2021. Using historical data, failure to catch on this price point has recalled $2,100.00 back on the charts, as seen in January 2022. 

Buyers have faced multiple rejections on the round figure in the past 24 hours, but the Relative Strength Index remains in their favor at 84.89 which shows a strong buying momentum for the ETH/USD pair. Another factor on the upside, a successful breach of $4,000.00 will send bulls to target the ETH’s all-time high price of $4,867.17, a level that can open immense possibilities for the token’s holders.

As of the latest charts, Ethereum holds a market capitalization of $467 billion, with $400 million worth of Ether having exchanged hands on the Coinbase exchange in the 24-hour timeline.

Best ETH alternative: Ethereum Classic (ETC)

Despite its positive run, ETH remains deadlocked on the US Securities and Exchange Commission (SEC)’s delayed decision on BlackRock and Fidelity’s highly-anticipated Ethereum spot exchange-traded fund (ETF), the first of its kind in the financial markets. 

Due to this delay, investors are looking elsewhere, and among the top choices is the project’s hard fork Ethereum Classic (ETC) created in 2016 after the infamous DAO hack. It is currently the 24th largest cryptocurrency by market capitalization, valued at $5.40 billion, trading at $37.00 apiece.

Traders Union’s current ETC price prediction shows a ‘Strong Buy’ rating, with its strong fundamentals and technicals. The ETC/USD pair’s RSI is currently at 81.00, indicating a strong buying appetite among the bulls. TU analysts anticipate an average price of $36.90 for the pair in April, while the positive momentum builds up. Year-end price is set at $47.93 on positive market conditions, with $39.21 as the support.

ETC price prediction for 2025, 2030, and 2035

Expert forecast for Ethereum Classic (ETC) price at the beginning of 2025 paints a more positive picture. ETC is projected to start the new year with a minimum price of $40.03 and a maximum price of $48.93. Positive sentiment will build slowly from there, with a hit price of $61.48 by the end of the year. 

In 2030, ETC is expected to record double-digit gains and trade at an average price between $154.00 to $194.00. Buyers can take the ceiling up to $200.00 if conditions are favorable in the broader crypto market. By 2035, TU experts predict ETC to trade at $676.91, making it an ideal investment option for investors looking for a high-potential token they can hold for the long term. 

Expert Advice on Crypto Investing

Anton Kharitonov, a financial market analyst at Traders Union with over 20 years of experience handling all-types of investments, cautions investors to consider all the odds before going all in with Ether (ETH) and Ethereum Classic (ETC). He completed an international management program in Stockholm, Sweden after an International Market Trader Program in Kyiv, making him a trustworthy figure in crypto-related analysis. Anton’s trading preferences lean towards major currency pairs, alongside a selection of minor pairs, with additional focus on trading oil futures and index CFDs.

He is an active trader and analyst who employs a blend of short- and long-term trading strategies, focused on fundamental factors and supported by various technical indicators and intermarket analysis. He noted that ETH and ETC both show positive potential both in near term and long term charts, but buying pressure remains present due to the instability of political and institutional reception of the two projects. 

Conclusion

In conclusion, analysts noted Ethereum (ETH) appears to be at a critical point as it approaches the $4,000 resistance level, despite indicators all pointing to a strong buying sentiment. The project is currently deadlocked with regulatory uncertainties and delays on Ethereum ETF approvals. Nevertheless, Ethereum’s potential remains bright, with experts eyeing its all-time high and beyond if this resistance is breached successfully. 

Meanwhile, Ethereum Classic (ETC) is turning out to be a good alternative investment option, with positive forecasts indicating substantial growth potential in the coming years. This makes it an attractive choice for long-term investors seeking high-potential assets in the crypto market. 

As a general market rule, investors should conduct thorough research and consider various factors before making investment decisions in the crypto market.

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