In short

• Ethereum’s value direction is made a beeline for Fibonacci levels somewhere in the range of $2,400 and $2,600, demonstrating a basic stage in valuation.
• Although Ethereum’s performance isn’t as strong as Bitcoin’s, if it starts to perform better, the price of ETH could rise significantly.
• The bullish price targets for Ethereum are approximately $2,400 to $2,600 and $3,400, despite bearish indicators on the 4-hour chart.

The price of Ethereum is currently moving in the direction of the next significant Fibonacci (Fib) levels, which are approximately $2,400 to $2,600. This trend suggests that Ethereum’s market valuation may be entering a pivotal phase.

Bitcoin (BTC) is performing better than Ethereum (ETH). However, if Ethereum begins to outperform Bitcoin, the price of ETH could rise significantly to as much as $3,400. This chance relies upon the ETH/BTC pair elements, which market members intently screen for signs of Ethereum’s market direction.

Ethereum Price Outlook: Signs Point to a Positive Trend

In Ethereum’s month to month graph, the Moving Typical Union Dissimilarity (MACD) histogram has been climbing bullishly for four successive months, demonstrating a potential for the MACD lines to cross in a bullish way soon. The General Strength List (RSI) is as of now in the unbiased zone.

Ethereum has effectively outperformed its past high of around $2,140 and is currently progressing towards the following Fibonacci (Lie) levels, somewhere in the range of $2,400 and $2,600. Notwithstanding, it could confront beginning negative opposition at this point, possibly prompting a remedial stage.

However, if Ethereum breaks through this resistance bullishly, it could potentially ascend to the golden ratio level, around $3,400.

Ethereum Gains 50% in Value Over the Past Eight Weeks

Over the past eight weeks, the price of Ethereum has been consistently rising, showing an increase of over 50%. The weekly chart mirrored this upward trend, where the Moving Average Convergence Divergence (MACD) histogram exhibits bullish growth.

Ethereum’s Daily Chart Reveals Bearish Divergence in RSI

The Relative Strength Index (RSI) divergence on the Ethereum daily chart is bearish, and the day has begun with a bearish trend. Should Ethereum enter a restorative stage, the following critical Fibonacci (Lie) support levels are expected at roughly $2,005 and $1,800.

Despite this, there is a golden crossover on the daily chart, which suggests a bullish trend in the near to medium term.

Furthermore, the Moving Average Convergence Divergence (MACD) histogram is trending upwards, and the MACD lines are in a bullish crossover, reinforcing the overall bullish sentiment.

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Ethereum’s 4H Chart Shows Predominant Bearish Indicators

Ethereum Versus Bitcoin: Clear Losses for ETH in Comparative Performance

It’s possible that Bitcoin will outperform Ethereum, bringing the price of ETH to the Golden Ratio of about 0.043 BTC. Ethereum’s rally toward $3,400 could begin at this point with a sharp rebound.