Ethereum (ETH) price prediction today: Is $2,875 within reach?

• ETH's Funding Rate has remained positive, but it hasn't overheated at all, whilst the Open Interest has stayed relatively high.
• Overall, this is a healthy setup.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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Technical analysis

• ETH has bounced from the $2,300 lows, as we predicted.
• ETH has now reclaimed back above the key horizontal level of $2,557 and price has now built support on top of this level. Positive.
• The RSI is high at 60 but not really anywhere close to overbought levels. Therefore, this opens the door for more upside for ETH in the short-term.
• If price does move higher, it may find resistance between the $2,800 (downtrend line) and $2,875 (the horizontal resistance).

Cryptonary's take

ETH is looking really clean here to potentially go higher, and to go higher quickly. If there isn't a major pullback from BTC, we think ETH can get a tailwind from this and drive up higher in the short-term, potentially retesting the $2,800 to $2,875 levels.

What is Ethereum: Ethereum (ETH) is a groundbreaking decentralized platform that facilitates the creation and execution of smart contracts and decentralized applications (dApps) without the need for intermediaries. Launched by Vitalik Buterin in 2015, Ethereum's innovative blockchain technology enables a wide range of applications and has become a cornerstone of the decentralized finance (DeFi) space. Ethereum's ATH is $4,868. 

How to buy ETH:

• Via Centralized Exchange (CEX):
  1. Select a CEX like Binance, Coinbase, or Kraken.
  2. Sign up and complete any verification processes.
  3. Deposit funds into your account.
  4. Go to the ETH trading section and purchase ETH.