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Ethereum was seen trading with a ruffled price trajectory on the 14th of October. The coin varied between the $374 to $388 price range. The Ethereum price prediction by Atlas Trades suggests that the coin will move towards $395 next.
1-Day Ethereum price analysis
Although the price volatility for Ethereum was observed to be relatively low, the cryptocurrency’s graph can be seen depicting jagged edges over the 24-hour trade. At the time of closure, the altcoin was priced at $377.98.
Ethereum price prediction for $395
In another one of their analyses, Atlas Trades expects ETH to move towards $395. The cryptocurrency continues to trade between the $378 to 395 range with the support marked at the lower boundary.
Atlas believes that Ethereum’s market sentiment can stay green for now as the cryptocurrency continues to grow. As long as the price is supported by the $378 mark, the target price will continue to be $395 for the crypto market.
Ethereum sees a pullback
The ETH price seems to have hit a set of resistances below the $390 mark. The cryptocurrency has been rejected by these resistances and the coin currently trades above a descending trend line of $377.
For the past 4 days, the cryptocurrency market has observed the altcoins go up on their charts. Ethereum finally made its way across the $375 mark. The price rejection caused the cryptocurrency to drop towards a descending trend line marked just above the $375 level. A repeated number of tests and pullbacks observed by Ethereum may allow the coin to break the resistances and move upwards.
What to expect from Ethereum?
Looking at the candle chart, we can see that Ethereum formed a red candle after testing a resistance near the $400 mark.
Just above this channel, Vince Prince has highlighted a bullish region for the ETHUSD pair. The cluster resistance that has formed between the $400 and $410 marks will cause the cryptocurrency to see a pullback towards the midpoint of the ascending channel. There are multiple Exponential Moving Averages that will allow support to the falling Ethereum during the pullback. This will form a backup cluster for the altcoin, giving it the ability to push towards the upside after observing a price reversal.
Similar to Atlas Trades’ opinion, the Trading View analyst YM Group has suggested the Ethereum price will move towards $395.
Per the analyst, the cryptocurrency is ready to go higher as it reached for the support level again and it did not break past it. The ETH price can move past this resistance level to break it. A break above this level will allow Ethereum to form a newer uptrend and test the higher resistances above $400.
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.
