Ethereum price analysis: ETH still holds below $1,350, another drop incoming?

Ethereum Price analysis 2022 10 01
TL;DR Breakdown


  • Ethereum price analysis is bearish today.
  • ETH/USD saw further consolidation yesterday.
  • Break higher failed overnight.

Ethereum price analysis is bearish today as we have seen further sideways momentum below $1,350 resistance over the last 24 hours. Since ETH/USD rejected another attempt to break higher late yesterday, we expect another move lower to follow later today.


Cryptocurrency heat map. Source: Coin360


The market has traded in the red over the last 24 hours. The leader, Bitcoin, lost 2.79 percent, while Ethereum 2.29 percent. Meanwhile, the rest of the market has traded with similar selling pressure.

Ethereum price movement in the last 24 hours: Ethereum fails to continue higher

ETH/USD traded in a range of $1,320.73 to $1,368.74, indicating mild volatility over the last 24 hours. Trading volume has declined by 38.85 percent, totaling $8.65 billion, while the total market cap traded around $162.25 billion, resulting in market dominance of 17.3 percent.

ETH/USD 4-hour chart: ETH looks to drop below $1,300?

On the 4-hour chart, we can see slight selling pressure over the last hours, likely leading to another attempt to break past the $1,300 support later in the weekend.


ETHUSD 2022 10 01 18 28 57

ETH/USD 4-hour chart. Source: TradingView


Ethereum price action has seen a steady move higher at the end of September, resulting in a retest of $1,400 resistance on Tuesday. Strong higher high was set as a result before decline took ETH/USD towards the $1,250 support.


Therefore, the market had set higher and lower highs, indicating indecision on where to move next. Reaction higher followed as a result towards the $1,350 resistance, where ETH has consolidated since.


An attempt to break higher was rejected late yesterday, indicating that a lower high is set and sellers should soon take over the market. The first target to break is the $1,300 support, which should lead to a quick spike towards the $1,250 support later in the weekend.

Ethereum price analysis: Conclusion 

Ethereum price analysis is bearish today as we have seen failure to move higher and further consolidation below the $1,350 resistance. Likely ETH/USD will look to test previous lows once more and move past the $1,300 support.


While waiting for Ethereum to move further, see our articles on how to buy Litecoin, Filecoin, and Polkadot.


Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

Related News

Hot Stories

Bitcoin, Ethereum, Chain, and ApeCoin Daily Price Analyses – 19 November Roundup
Solana price analysis: SOL recovers to the $13 range as support appears
Litecoin price analysis: LTC recovers to $65, eyes $70 next
Crypto's success continues to remain relentless in Nigeria
Ethereum price analysis: ETH slowly continued sideways above $1,200, move higher overnight?

Follow Us

Industry News

Best crypto memes of the day - November 18th
Best Twitter threads of the day - November 18th
Top crypto tweets of the day - November 18th
How B2C2 buying loans from Genesis could possibly backstop the contagion?
Leaked report exposes Genesis begged investors $1B emergency loan

Add Your Heading Text Here