Ether Keeps Trading in a Tight Range, Both Sides are Uncertain about its Future

ETH Price

As of now, the investors are finding themselves fighting against each other to pull Ethereum (ETH) to their side. There is currently uncertainty among the investors as they do not know where the asset may move in the near future.

Uncertainty Among Investors

The data shows that Ethereum is currently trading in a range that is very tight. This means that there is not much volatility in the trading activity at the moment.

This indicates that neither the bulls nor the bears are putting in much effort to bring ETH to their corner. If they did, then the volatility would rise with the asset leaning towards either of the sides.

ETH Price to Plummet to $1,461

As of now, the trading price of ETH is over the $1,544 level. It is a strong support level for ETH and the bears may have to pull it lower with extra selling force.

With the selling pressure rising from the side of the bears, the asset may lose its grip over a particular level.

In this particular case, ETH’s trading price may fall below the support level and start moving downward.

If the bulls keep moving out of the way of the bears, then they will continue increasing their firepower. They will carry on selling ETH on a larger scale, which may pull the asset’s price much lower than the support mark.

Their attempt would be to pull ETH lower than the $1,500 mark and then bring it much lower.

As the selling power keeps on rising, the bears may increase their selling efforts. This would increase the selling pressure even more, which may end up bringing ETH lower to the strong support level.

The strong support level for the asset is currently at $1,461. If the bulls do manage to support this level, then the asset’s price may surge to $1,743.

If both sides put in extra effort from their ends, then ETH may become more volatile. In this particular case, the asset’s volatility range may become $1,461 to $1,743.

Upside Movement of ETH

If the bears do not inject much selling power into the trend, then it would be the bulls countering them with strong buying sentiments.

If that happens, then the bears will start moving out of the way, letting the bulls build on to their strong buying rally. They may continue with their buying activity in order to push ETH to higher levels.

At first, they may cross the $1,743 level which may grant them more buying confidence. As the bulls keep on buying ETH with more sentiments, then ETH’s trading price may surge to a high of $2,000.