Ethereum (ETH) is About to See Liftoff if It Closes Above $580
ETH price found support near $535 and started a steady recovery against the US Dollar. The price is currently trading above $560 and the 100 simple moving average (4-hours). There is a crucial contracting triangle forming with resistance near $570 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair could rise sharply if there is a clear break above $570 and $580. This past week, bitcoin and ethereum saw a downside extension below $18,000 and $550 respectively against the US Dollar. ETH price even spiked below the $540 support and settled below the 100 simple moving average (4-hours).
However, the bulls were able to protect the $530 support zone. A swing low was formed near $535 and the price recently started a steady upward move. There was a clear break above the $550 resistance level.
Ether price also surpassed the 50% Fib retracement level of the downward move from the $578 swing high to $535 swing low. It is now trading near the $570 resistance zone and above the 100 simple moving average (4-hours). There is also a crucial contracting triangle forming with resistance near $570 on the 4-hours chart of ETH/USD.
The triangle resistance is close to the 76.4% Fib retracement level of the downward move from the $578 swing high to $535 swing low. The next major resistance and a key breakout zone sits near the $580 level.
A successful break above the $570 resistance and a follow up move above the $580 level could start a strong increase. The next major resistance is near $600, above which it could rise towards the $620 level.
Fresh Decline in Ether (ETH)?
If Ethereum fails to clear the $570 and $580 resistance levels, there is a risk of another bearish reaction. An initial support is near the $555 level.
The first major support zone sits near the $550 level and the triangle lower trend line. A downside break below the triangle support might lead the price towards the $535 support zone.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 67.6% | 59 | $101 363.57 | 5.75% | 5.84% | $2 006 042 665 897 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 72% | 57 | $3 857.57 | 5.71% | 6.44% | $464 612 564 631 |  |
|
| 3 |  USDT |
Tether predictions | 94.4% | 1 | $1.000540 | -0.02% | -0.03% | $135 764 333 539 |  |
|
| 4 |  XRP |
XRP predictions | 60% | 90 | $2.37 | -6.37% | 61.51% | $135 128 141 308 |  |
|
| 5 |  SOL |
Solana predictions | 70.8% | 62 | $232.13 | -1.56% | -4.26% | $110 343 784 176 |  |
|
| 6 |  BNB |
Binance Coin predictions | 84.8% | 25 | $721.64 | -3.72% | 10.51% | $103 922 816 425 |  |
|
| 7 |  DOGE |
Dogecoin predictions | 64% | 77 | $0.428774 | 3.84% | 3.26% | $63 058 906 091 |  |
|
| 8 |  ADA |
Cardano predictions | 58% | 87 | $1.18 | -1.47% | 16.46% | $41 425 711 143 |  |
|
| 9 |  USDC |
USD Coin predictions | 95.2% | 1 | $0.999679 | -0.04% | -0.02% | $40 712 477 951 |  |
|
| 10 |  TRX |
TRON predictions | 74% | 48 | $0.331780 | -11.09% | 65.01% | $28 627 475 807 |  |
|
| 11 |  AVAX |
Avalanche predictions | 62.4% | 86 | $51.35 | -0.42% | 18.45% | $21 018 969 340 |  |
|
| 12 |  SHIB |
SHIBA INU predictions | 72.4% | 51 | $0.000031 | 4.36% | 21.59% | $18 484 583 266 |  |
|
| 13 |  TON |
Toncoin predictions | 64.4% | 78 | $6.80 | -0.76% | 6.38% | $17 327 281 996 |  |
|
| 14 |  DOT |
Polkadot predictions | 57.2% | 91 | $10.40 | 6.30% | 25.76% | $15 864 507 110 |  |
|
| 15 |  LINK |
Chainlink predictions | 57.6% | 88 | $23.82 | 0.40% | 31.04% | $14 933 658 983 |  |
