- Ethereum price analysis is bullish today.
- ETH/USD set higher low at $3,900.
- Next resistance at $4,400.
Ethereum price analysis is bullish today as a higher low was set on Friday, leading to more upside yesterday. Therefore, we expect ETH/USD to continue moving higher and target the $4,400 current swing high early next week.
The crypto market traded mostly in the green over the last 24 hours, with Bitcoin up by 1.17 percent. Meanwhile, Ethereum has gained 3.39 percent, while Shiba Inu (SHIB) is the top performer, with a gain of 40 percent.
Ethereum price movement in the last 24 hours: Ethereum sets higher low at $3,900, starts to move higher again
ETH/USD traded in a range of $3,944.63 – $4,185.73, indicating mild volatility over the last 24 hours. Trading volume has declined by 14.77 percent and totals $14.58 billion, while the total market cap trades around $484.77 billion, resulting in market dominance of 19.02 percent.
ETH/USD 4-hour chart: ETH targets $4,400 today?
On the 4-hour chart, we can see Ethereum price action regaining bullish momentum, likely leading back to the $4,400 current swing high early next week.
Ethereumn price action has seen strong performance in October. After a several-week consolidation above $2,750 at the end of September, a sharp break higher was seen on the 1st of October.
ETH/USD peaked at $3,650 initially, with another push higher during the middle of the month to just below the $4,000 mark. From there, ETH retraced to retest the $3,650 high as support before pushing higher for the third time.
This time, the Ethereum price reached the $4,400 all-time high on Thursday. Over the next 24 hours, ETH/USD retraced to set a higher low at $3,900 before slowly starting to trade higher again.
Ethereum Price Analysis: Conclusion
Ethereum price analysis is bullish today as a new higher low was set yesterday, leading to more upside overnight. Therefore, we expect ETH/USD to continue higher and move above the $4,200 local resistance.
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