- Ethereum price prediction charts expect a bearish turn.
- Analyst also believe Ethereum is on a price cross road.
- Analysts believe EThereum price is moving towards a $320 low.
Khan Forex Trading explains that the Ethereum ETH price will gradually fall towards the $320 support structure. On the 6th of October, the price touched the $354 mark, after which it fell bearish to $340.
1-Day Ethereum price analysis
The ETH price was observed at $341.53 US Dollars on Bitstamp at the time of writing. The price fell to a day’s low of $332.93.
Would Ethereum price fall to 320 next?
The Trading View analyst Khan Forex Trading believes that the ETHUSD pair will fall towards the $320 support structure. Per the Ethereum price prediction, the cryptocurrency was to observe a breakout towards the downside from the bearish flag continuation pattern.
The analyst highlighted the trade pattern on the 4-hour chart for the ETHUSD trading pair. Per the analyst, the cryptocurrency traded above an ascending trendline from the second week of September for about 2 weeks, after which it fell to another ascending trendline with a lower inclination. The price line fell from this ascending trend line on the 1st of October, after which it entered the ascending channel that led the price towards the $356 mark.
The support structure was marked below the $320 level, and the cryptocurrency fell below the rising channel on the 6th of October. This trade is currently active and the price is expected to continue falling towards $320.
Another bearish Ethereum price prediction
The Trading View analyst Ahmed Mesbah believes that the ETH price will rise towards the $560 mark after observing a price reversal to the $270 level.
The price reversal range was marked between the $270 to $300 levels per this Ethereum price prediction. The analyst believes that Ethereum will test this price range after which a bounce will follow and the cryptocurrency will move towards the $560 mark in a long-term trade. Ethereum broke above this resistance-turned-support range on the 24th of July after trading above an ascending support structure for almost two years.
The Trading View analyst Solldy discussed that the ETH price will rise towards the $356 mark on the 7th of October. Per the Ethereum price prediction, the cryptocurrency was expected to retest the upper boundary of the ascending channel.
The analyst highlighted the ascending channel on the 45-minute chart for the cryptocurrency. Ethereum was supported by a structure above the $352 mark in the ascending channel. On the 7th of October, the price turned bearish and fell below the support structure. This caused a breakout towards the downside and the cryptocurrency fell to $340.
Ethereum price prediction charts show cross road
The Trading View analyst Vascoins suggested that Ethereum will observe a slow climb towards the $440 mark. Per this Ethereum price prediction, the cryptocurrency may even fall bearish towards $320 soon.
The idea depicted that Ethereum will gradually rise above the no trade zone and move towards the $446.43 level. The cryptocurrency has currently fallen below the accumulation zone and it stands above $334. However, this may be a fake out and the price may recover its uptrend soon to move towards the $400 mark.
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