Ethereum price has currently stabilized after its recent downfall on the 24th of September. With its yesterday’s value of one hundred and fifty-five to one hundred and sixty dollars ($155 – $160), the queen of cryptocurrency is still over the mark of the yellow price zone.
This stabilization has allowed Ethereum’s customers to test the cryptocurrency’s price of two hundred dollars ($200). Traders are striving to take the cryptocurrency’s value out of its current local stage and set it at a higher price mark.
Ethereum price movement: What to expect?
We can observe an inadequate number of Ethereum sellers in the one hundred and fifty-five to one hundred and sixty dollars ($155-160) price range attack, which slightly increases the chance of Ethereum buyers striving to counterattack:
There is a higher probability for the Ethereum price to test the two hundred dollars ($200) mark, one can choose a local and reliable Ethereum price zone for buying while they’re counterattacking, and thus deduce weak volumes of selling action, amounting to smaller pins and candles. The marginal positions of the buyers do not react to the cryptocurrency’s downfall.
Ethereum traders and investor have high hopes of breaking through the current price range for the cryptocurrency.
The cryptocurrency’s buyers have caused the prices to settle over the first extension level of the Fibonacci sequence, which means that the preceding drop of the cryptocurrency that concluded on 24 September, has now been replaced by a correction of over twenty-three percent (23.6%).
Now, the value of the cryptocurrency strives to test a price mark of over one hundred and eighty dollars ($181).
Looking at the weekly graph, it can be concluded that the initiative is dependent upon the sellers, regardless of the buyers testing the two hundred dollars ($200) price before the end of the week.
It is observed that in the upcoming week, the cryptocurrency’s price range of one hundred and fifty-five to one hundred and sixty dollars ($155- $160) will prove to be intense again.
In a week, the Ethereum sellers have executed the same strategy that the Ehtereum buyers have for three (3) weeks. The cryptocurrency’s buyers will have to bear with this suffering for at least another week.