Whilst Bitcoin seems to be stuck in a choppy market, the Ethereum price movement is also recorded to be in a sway.
Along with a declining Bitcoin dominance, some coins have started emerging on their charts with decent gains; Ethereum (ETH) being one of them. ETH which is often termed as the altcoin market’s leader seems to be getting behind the curve. Presently, it is experiencing a couple of resistance levels.
The twelve-hour chart of Ethereum price indicates that Ethereum might pop out at any moment. ETH price is squeezed here by twenty-one exponential MA and local resistance level.
Ethereum price movement: What to expect?
Lately, the Ethereum price trend displayed a bit of a weakness, however; a significant bear divergence could be seen after the breakdown of Bitcoin- which happened to take several altcoin charts along with it.
While the mid-term chart of ETH/USD represented another story. Here ETH price is also stuck below one-hundred and ninety dollars ($190) resistance, just after the drop caused by BTC on 24 September.
Lastly, moving back to the three-day chart of ETH/BTC pair in order to gain some insights. One tends to realize that there is some uptrend, suggesting that another push might lead to a break in the resistance level. However, this would not be expected to translate the gains on charts of fiat.
The histogram is showing that it is plateauing and not arcing down, suggesting that another push would likely come.