Cryptocurrency Price Analysis: Ethereum

Learn about the latest on the Ethereum price with reports from the Cryptocurrency Price Analysis. Read our analysis on trends and behavior.

Eth Price

Ethereum has made small gains over the final weekend (amounting to the last few days) of September, as it has surpassed the $230 price point. This is an approximately $7 rise from last week’s low price of $225.

Key Motions Of The Ethereum Price

  • The last few days of September saw a rise in the Ethereum value, which had topped off at above $230.
  • The trend shows a monster bullish market with the support of the $221 occuring on the hourly chart.
  • The price may continuing moving upward, as long as the $221 and $223 are upheld.
  • While showing bullish signs against the USD and Bitcoin, Ethereum/ USD is showing resistance around the $236 and $238 levels.

A Deeper Price Analysis

ETH graphThe Ethereum price has seen bullish moves in the past few hours, with a position of $220 ETH against the US Dollar. The ETH/USD pair traded higher and entered the $226 and $230 resistance levels.

There was a leap above the $236 level, which leveled the price above the 100 hourly Simple Moving Average (SMA). The highest price reached $239.31, which had later declined to the $213 low, a reduction below the 23.6% Fib retracement level of the last leg.

The declines were hedged by the $224 level and the 100 hourly SMA. There had not been a close below the 50% Fib retracement level of the last leg to the low and high of $213 and $239, respectively.

Below the $226 price, the key support rests around $223 and the 61.8% Fib retracement level.

There is also a monster bullish trend secured, with the support of $221 on the hourly chart. The support for further gains above $236 will continue so long as the price is above the trend line.

If the $239 high is broken with higher prices, they will most likely surge to a level nearing $250.

Based on the chart above, Ethereum is showing positive signs above the $223 and $221 support levels. The price may likely swing to the low of $213 during the near term.

The hourly Moving Average Convergence Divergence (MACD) is showing signs of moving into a bullish zone. The hourly Relative Strength index (RSI) is above the 50 level. Ethereum’s major support level is at $221 and its major resistance level is at $236.

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Cryptocurrency Price Analysis: Ethereum
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Cryptocurrency Price Analysis: Ethereum
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Learn about the latest on the Ethereum price with reports from the Cryptocurrency Price Analysis. Read our analysis on trends and behavior.
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Ibinex News
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