In our last Ethereum forecast, we answered the question “Should you flee from Bitcoin to Ethereum now”. There we came to the decision that an investment in Ethereum could be more worthwhile than one in Bitcoin. As a result, the crypto market has fallen a little more and, of course, altcoins have suffered more than Bitcoin. But what does the current Ethereum chart look like? Has the Ethereum price already reached the bottom or will it go even lower? Could the price rise soon or does it look rather bad? We will answer these questions in this article!
Will Ethereum rise soon?
ETH/USD Next Step
If we look at the weekly chart of the Ethereum price, we can see that the price could rise soon. The current weekly candle has closed above $1,000 and has thus successfully defended the support of $1,000. Because of this, the next step would now be a small increase. This increase could continue until the next resistance. This one is at about $1,400. Thus, the Ethereum price could rise by about 40% in the next few weeks. After that, however, it could unfortunately go south again. Subscribe to our newsletter so as not to miss any important news!
Has Ethereum already hit the bottom?
ETH/USD Support
That the Ethereum price has already reached the bottom is rather unlikely. We at CryptoTicker assume that the price will drop to at least $800. That’s where the next support is under $1,000. This is the least we expect. If the $800 does not hold, which is not unlikely, the price could fall to about $450. However, once this level has been reached, we assume an end to the bear market. One would have to look at the situation as soon as the price reaches the $450, but as of now we believe that the bottom will be there.
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