The Ethereum price has been making waves in the cryptocurrency space recently, hitting a new 9-month high and retesting the $4,000 mark. This surge in price has been accompanied by increased bullish sentiment and technical indicators hinting at a higher price target in the near future. If this bullish trend continues, we could see Ethereum reaching a new 52-week high.
In the last 24 hours, Ethereum has seen a 2.19% increase in price with a trading volume of $47.809 billion. Over the past week, it has surged by 7.61% and over the last month, it has seen a significant increase of 41.84%. The Relative Strength Index (RSI) is currently hovering around the overbought range in the daily time frame, indicating strong buying pressure for the altcoin.
The Simple Moving Average (SMA) also shows a steady uptrend in the Ethereum price chart, further supporting the bullish sentiment. If this trend continues, Ethereum could retest its resistance level of $4,100 and potentially reach a target price of $4,500 in the coming weeks. On the other hand, a bearish reversal could see Ethereum dropping to a support level of $3,700, with further downside potential to $3,300.
Looking ahead, the long-term price prospects for Ethereum look promising, with potential for significant growth. With increased adoption and bullish price action, the ETH coin price could reach a maximum price of $15,575 by 2030. Currently, $100 can buy you approximately 0.025 ETH. In the next 5 years, if the bullish sentiment sustains, Ethereum could potentially reach a price as high as $13,000.
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