Ethereum Price Analysis: ETH Flirts With $3,000 But Will Bulls Manage to Break It?

ETH / USD – Ether remains within established range

Key Support Levels: $2890, $2710, $2620.

Key resistance levels: $ 3000, $ 3200, $ 3300.

Etheruem continues to trade inside the range it set around ten days ago between $3200 and support at $2770 (.786 Fib). A 100 day MA further strengthens support at the lower end of the range.

Yesterday, ETH found the support at $2800 and rebounded higher from there today as it spikes above $3000. The market will have to break this established range to dictate the next direction. A break above $3200 could allow ETH to recover to the September highs. On the other hand, if it goes below $2,800 we might see the cryptocurrency start sliding to $2.2K.

ETH-USD Short Term Price Prediction

Going forward, the first support stands at $ 2,890. This is followed by $2710 (.786 Fib & 100-day MA), $2620 (200-day MA & downside 1.414 Fib Extension), and $2500.

On the other side, the first resistance is at $ 3000. This is followed by $3200 (20-day MA), $3300 (50-day MA), $3350, and $3500.

The daily RSI remains below the midline indicating weak bearish momentum in the market. However, it is shaping up to hold 40 and is looking to climb back into bullish territory.

ETH / BTC – Bulls defend .5 Fib retracement

Key levels of assistance: 0.068 BTC, 0.0671 BTC, 0.066 BTC.

Key Resistance Levels: 0.07 BTC, 0.072 BTC, 0.074 BTC.

Against BTC, the cryptocurrency is doing well to maintain support at 0.068 BTC, provided by a 0.5 Fib retracement. ETH has also been trapped inside a range between the support at 0.068 BTC and resistance at 0.071 BTC. He must break this fork to move in the next direction.

Additionally, ETH is also trading inside a descending price channel here. It recently encountered resistance at the upper limit of the price channel earlier in the week, pushing it back towards the 0.068 BTC support.

ETH-BTC Short Term Price Prediction

Moving forward, the first support lies at 0.068 BTC (.5 Fib). This is followed by 0.0671 BTC (20 day MA), 0.066 BTC (downward extension of 1.272 Fib), and 0.0654 BTC (0.618 Fib).

On the other side, the first resistance lies at 0.07 BTC (100-day MA). Next are 0.072 BTC, 0.074 BTC and 0.075 BTC.

Again, the RSI remains beneath the midline, indicating weak bearish momentum controls the price.

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