- Ethereum price predictions expect ETH to sustain above $400.
- Ethereum finds strong support at the $392 mark.
- ETH is currently facing strong resistance at $400.
Ethereum touched the $400 level on the 21st of October after observing another price surge over the day. The Ethereum price prediction by Vince Prince shows that the ETH price looks promising to make a move across the $400 mark.
1-Day Ethereum price analysis
The coin was priced at a day’s high of $400.00. The price was observed at 4395.02 US Dollars at the time of writing. While as previously expected, the $380 high was achieved with ease.
Ethereum price prediction: Where is ETH headed?
Ethereum assumed the $370 to $388 price range on the 10th of October, and the cryptocurrency has been testing the boundaries of this range ever since. On the 20th of October, the price observed a pullback towards the support level near $370.
Atlas Trades suggested that the cryptocurrency will turn bullish on the 2H timeframe and test the $388 mark. On the 21st of October, when the crypto market turned bullish, the leading altcoin moved towards the $388 resistance and broke past it. The price currently holds above the $396 level. If Ethereum can hold this newly formed support, the altcoin will test higher resistances soon.
On the chart by Solldy, a triangular pattern can be observed. The cryptocurrency was expected to gradually move towards the support near $373 as the price saw a mild pullback after testing the resistance above $380 at the beginning of the 21st of October.
As the day progressed, the market saw the green light, and Ethereum retested the descending trendline and broke past it. The bullish momentum was strong enough to allow the price to cross multiple resistances towards the upside. Currently, the price rests above $396, and if it holds this support, it will continue to move towards $400. The bullish momentum was strong enough to overcome the initial bounce-off that the coin experienced at the beginning of the 24-hour trade.
Ethereum runs along the bulls
Per YM Group, the price was going to test the $387 resistance which is where the take profit was marked for this trade.
Ethereum has had positive market sentiments over the past few days that have accounted for the cryptocurrency’s ascension. If we look at the chart above, we can also see that the ETHUSD pair has seen a significant increase in the trade volume. The price rose by over $15 US Dollars on the 21st of October. If the coin rests well above the $396 mark and closes there, it will have a high chance of testing the higher price levels.
Ethereum price prediction: What’s ahead?
ETH was recently testing a long descending trendline above a falling channel. The cryptocurrency bounced above this cannel and moved towards the $380 mark. The analyst believed that the price would establish a wave count over a Fibonacci cluster marked on the chart below.
Instead of establishing the wave count, Ethereum observed the bullish momentum and rose straight across the channel breakout target on the 21st of October. Following the breakout, the price moved towards the upper resistance of the setup and broke past it. This means that the altcoin was highly bullish during the 24-hour trade. The stability of the price above this resistance would result in a rise across the $400 mark.
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