Crypto Price Prediction - Ethereum

Ethereum bulls show no signs of slowing down even after a 25% run-up in the last week.

Ethereum investors go on a buying spree

Etheruem price showed a massive burst of buying power around the 38.2% Fibonacci retracement level at $1,578, which resulted in a 25% bounce. This quick run-up has toppled the immediate supply barrier at $1,881, coinciding with the 78.6% Fibonacci retracement level.

Additionally, the SuperTrend indicator has triggered a buy signal after 161 days, which portrays this upticks importance for the ETH price.

Therefore, a continuation of this bullish momentum could quickly propel the smart- contracts platform token toward $2,500. Interestingly, this level coincides with the 161.8% Fibonacci extension level.

To do so, Ethereum bulls need to slice through crucial supply barriers that stand at $2,040 and $2,245.