Investors are pondering if Bitcoin and Ethereum can break out and reach new highs after being trapped in narrow ranges for some time. Despite recent volatility, a number of encouraging signs suggest that BTC and ETH are poised for a significant rise.
Let’s take a look at some of the main cryptocurrency market fundamentals that can influence overall price movement.
Today’s Ethereum Price
| DATE | ETC | USD |
|---|---|---|
| Today | 01 | $ 1,694.17 |
The price of Ethereum is presently $1,701, with a 24-hour trading volume of $5.3 billion. In the last day, Ethereum has gained more than 0.10%. With a market cap of $208 billion, it is presently ranked second on CoinMarketCap.
ETH Price Prediction
During the Asian session, the ETH/USD pair is trading sideways within a narrow range of $1,670 to $1,720. The trend for Ethereum will be determined by whether or not this range is broken.
On the 4-hour time frame, Ethereum has formed an upward channel, which is supporting the ETH price near $1,650. If purchasing pressure increases, ETH might hit the $1,740 and $1,825 resistance levels, allowing it to cross the $1,720 milestone.
Today’s Ethereum Price
A break below $1,675 could widen the decline and push prices into $1,635 or $1,600 territory.