Ethereum (ETH), the second largest cryptocurrency by market capitalization, is a key player in Crypto Market, driving innovation in distributed finance (DEFI), smart contracts and blockchain applications. However, after reaching an all-time high of $4,878 in November 2021, ETH struggled to regain those heights, facing multiple price adjustments.
The ETH price, which currently trades around $1,967, has sparked concern among investors. The question is as the crypto market shows signs of recovery and institutional interest: Can Ethereum escape that bearish trend and rally on its ambitious $7,000 goal?
To answer this, we analyze ETH price actions, key resistance and support levels, technical indicators such as RSI and MACD, and basic catalysts that can induce Ethereum to new highs. Dive into the chart and see if your ETH could potentially make parabolic movements towards $7,000.
Ethereum Price Prediction: Is Ethereum ready for a big breakout?
eth/usd daily charts – TradingView
Ethereum prices are under pressure and struggle below major resistance levels. There is a continuous downtrend on the daily chart, with ETH currently showing hovering of around $1,967 after not holding a higher support zone. An important question arises. Will Ethereum overcome this bearish momentum and reach its ambitious $7,000 target?
From a technical standpoint, market structure reflects bearish sentiment, but potential patterns of reversal may be formed. The relative strength index (RSI) is at a very excessive level, and the MACD shows early signs of bullish divergence. These indicators suggest that Ethereum may be approaching the short-term bottom, which could set a stage of recovery.
What are the main resistance and support levels?
Ethereum faces strong resistance at $2,100, with multiple rejections seen in past price actions. Once ETH prices break this level, their next targets will be $2,500 and $3,000. Otherwise, it could lead to a retest of support of around $1,800.
The key bull signal is an ETH that recovers $2,500 in support, as it may provide the momentum needed for a long-term uptrend. On the downside, if Ethereum lost $1,800 in support, we could see an even more bearish move towards $1,500 before a potential recovery.
What do RSI and MACD show about the next move for Ethereum?
The RSI (14) is currently 35.79, which is very close to oversold territory (less than 30). This indicates that sales pressure may be approaching fatigue and that relief rally may be on the horizon. Keeping the RSI above 40 confirms the beginning of bullish momentum.
However, MACD (12, 26) remains wimpy due to the negative histogram bar. The MACD line is below the signal line and checks for a downtrend, but the negative momentum appears to be slowing down. As the MACD line crosses the signal line, a bullish trend shift is confirmed, signaling a potential gathering.
Ethereum Price Prediction: Can Ethereum be promoted to $7,000?
To reach the price of Ethereum of $7,000, it will need to experience major macroeconomic changes and important fundamental catalysts.
- Bitcoin Rally Over $10,000 – ETH often follows the BTC lead.
- Increased adoption of Defi and Layer-2 – Ethereum ecosystem growth, including rollups such as arbitrum and optimism, could increase the demand for ETH.
- Global Liquidity Expansion – Liquidity-led gatherings could push ETH to a new highest if central banks move towards policy easing.
Currently, ETH prices are far from the $7,000 target, but the break above $3,500 is a big bullish confirmation, setting a long-term stage of meetings towards a higher price target.
Are you buying Ethereum now?
At $1,967, Ethereum is trading at a massive discount compared to its previous highs. The indicators suggest a potential bottom formation, but require confirmation through prices regenerating major resistance levels such as $2,100 and $2,500.
For short-term traders, waiting for a breakout of over $2,100 can be a safer strategy. For long-term investors, accumulating ETH at current levels could provide a strong return as Ethereum basics continue to improve.
$7,000 is an ambitious goal, but not impossible. Once ETH breaks out above $3,500 and Bitcoin reaches a new high, Ethereum enters the parabolic phase, reaching $7,000 in the next bull cycle.
