Ethereum (ETH) Finally Moves Above $1,000 — What’s Next?

[MUGNIA]

The Ethereum (ETH) price increased by more than 40% over the past few weeks and is approaching its all-time high levels.

While the long-term trend is likely still bullish, a short-term decrease is expected before Ethereum resumes its upward movement.

 
Long-Term Ethereum Levels
The ETH price increased considerably during the week of Dec. 27 – Jan. 4, doing so by nearly 43%. ETH continued its increase earlier today to reach a high of $1,162.97. However, the higher prices could not be sustained, and ETH created a long upper wick and fell back below $1,000.

The $1,162 high also coincides with the 0.786 Fib retracement level at $1,150. If ETH continues increasing, the next resistance would be found at $1,250, before the all-time high price of $1,440.

Despite showing overbought levels, technical indicators are still bullish, indicating that ETH is likely to continue increasing and eventually reach a new all-time high in the process.



more : https://beincrypto.com/ethereum-eth-moves-above-1000-whats-next/