Ethereum (ETH/USD) price heading to $16,000? What could happen next

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  • Ethereum recovered over 4% on Monday

  • The cryptocurrency has maintained an uptrend

  • Break above $1,250 sets ETH towards $16,000 with a short-term correction near $1,350 and $1,450

Relief rallies are here, and before we go any further, Ethereum (ETH/USD) is back above $1,300. For a crypto native, this price level should inform you that Ethereum has crossed a resistance barrier at $1,250. We’ve seen this before, with cryptocurrencies breaking key levels and subsequently crashing below them. Only then do you recognize how volatile digital assets are. But of course, you don’t want to miss out on the smaller opportunities that are emerging, and Ethereum could be one of them.

Trading up 4.66% as of press time, Ethereum was again showing why investors should never lose hope. Ethereum is considered the home of decentralized finance and non-fungible tokens. Analysts expect these two nascent sectors to continue to grow in 2022 despite a downturn. Hence, the timing of your investment in Ethereum needs to be both short and long term. But does the recent rally signal the start of a bull run?

We would be very careful about calling a bullish market for Ethereum and any other crypto. However, as ETH price action suggests, $16,000 may be an inevitable target only if…

Ethereum price outlook and analysis

ETH/USD Chart by TradingView

The price outlook for Ethereum shows that it has surpassed the $1,250 resistance. The momentum has increased significantly since the breakout. The moving averages are now supporting the price, with the 20-day MA attempting a close above the 50-day MA. Ethereum is maintaining momentum above a short-term ascending trendline and trading with higher highs and higher lows.

What next for ETH?

ethereum price The current bullish phase is set for the $1,350 level. A break above this area will target the buyers at $1,450. Nevertheless, we set a price target at or above the established resistance at $1,600. For ETH to reach this price level, the bulls must hold the price above the rising trendline and moving averages. However, a short-term correction is expected near the $1,350 and $1,450 near-term resistances.

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