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Does the Ethereum rate now rise to USD 6,000?

The ETH price has surpassed the important price level of USD 3,000 and is now struggling with decisive resistance. If Ethereum leaves this behind, the USD 6,000 is waiting for the Ethereum price.

The Ethereum price is on the verge of a bullish breakout

Ethereum price chart from Tradingview

For weeks, the Ethereum price was rejected at the decisive resistance at around USD 3,300. Today he is trying to break this Fibonacci level sustainably. Should the ETH price leave this level behind, it could target the all-time high of around USD 4,400. The indicators are not showing any bearish evidence either, and the chances are good that Ethereum will break that resistance.

The ETH price could shoot up by 26 or 76%

Ethereum price chart from Tradingview

This would give the ETH price an upside potential of around 26 or 76%. Because once the golden ratio between 3,300 – 3,450 USD is left behind, the Ethereum price will only find its next resistance at 4,400 USD. Apart from that, the next bullish price target at the 1,618 Fibonacci level is around 6,000 USD. This price level is likely to be reached if Ethereum breaks the all-time high at USD 4,400.

The Ethereum price will encounter very strong support at USD 1,700 at the latest. Just above that, at around USD 2,200, it also encounters the 50-week EMA, which also serves as a support.

In the medium to long term, the ETH price could rise to USD 11,400

Ethereum price chart from Tradingview

In the medium to long term, the Ethereum price could even rise to USD 11,400. That is around 230% upside potential from here. Before that, however, ETH must first sustainably break the current resistance at USD 3,450, leave the all-time high at USD 4,400 behind and break the Fibonacci level at USD 6,000.

Against Bitcoin, Ethereum is at a key resistance

Ethereum Bitcoin Price Chart from Tradingview

Against Bitcoin, Ethereum is at a key resistance. Should Ethereum be rejected there, at the golden ratio at 0.072 BTC, this confirms the bear trend towards Bitcoin. Should ETH break this resistance, however, ETH / BTC will again find itself in a strong upward trend. Then the ETH / BTC price could rise by around 13 or 36%.

Disclaimer of liability

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general informational purposes only. Any action that the reader takes based on the information found on our website is entirely at your own risk.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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