Ethereum Price Prediction for Today, May 1: ETH May Head For $3000 Resistance

The Ethereum price prediction shows that ETH is likely to cross above the moving averages as the coin may touch the $3000 resistance.

ETH/USD Market

Key Levels:

Resistance levels: $3200, $3400, $3600

Support levels: $2400, $2200, $2000

ETH/USD is likely to refresh to the upside as the coin currently trades at $2806 with a bullish crossover and trend the intraday. Today, the Ethereum price is likely to stay above 9-day and 21-day moving averages as the higher resistance may come at the $3000 resistance level.

Ethereum Price Prediction: Ethereum Price May Spike to the Upside

The Ethereum price is likely to increase the bullish movement if the price moves toward the upper boundary of the channel. Currently, the technical indicator Relative Strength Index (14) is moving around 40-level at the moment and may likely send bullish signals to encourage more buyers to enter the market.

However, if the 9-day MA crosses above the 21-day MA, it is likely for the coin to face the north, and the price could hit the nearest resistance levels at $3200, $3400, and $3600 respectively. On the contrary, if the technical indicator Relative Strength Index (14) drops below the 40-level, there may be a little retreat to the south which could bring the market to the support levels of $2400, $2200, and $2000.

Comparing it with Bitcoin, Ethereum (ETH) stays below the 9-day and 21-day moving averages as the price heads to break to the upside. However, the fact that the market remains in the descending channel, the crypto is likely to form a bullish movement below as the technical indicator Relative Strength Index (14) moves to cross above the 50-level.

However, if the buyers push the market price towards the upper boundary of the channel, the Ethereum price may touch the resistance level of 8000 SAT and above. Meanwhile, any strong selling pressure may bring the price towards the lower boundary of the channel, and this could attract new sellers coming into the market with the next focus on the support level of 6600 SAT and below.

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• Source: https://insidebitcoins.com/news/ethereum-price-prediction-for-today-may-1-eth-may-head-for-3000-resistance