- Ethereum price prediction is high on a new bullish trend.
- Ethereum price flash crashes $352.
- Analysts are optimistic that price will rise towards the $400 mark.
- Current support levels are found at $350.
Per the Ethereum price prediction by Rocket Bomb, ETH price will rise towards the $400 mark after observing a breakout towards the upside. Previously, the cryptocurrency traded below the $356 mark.
Ethereum price analysis
On the 24-hour chart, the cryptocurrency observed a day’s low of $354.62. Ethereum was priced at $354.42 US Dollars on Bitstamp at the time of writing.
Ethereum price to move sideways next?
The Trading View analyst Mudrex is of the opinion that the ETH price is going to move sideways on the 4-hour chart next.
Per the Ethereum price prediction, the cryptocurrency recently saw an uptrend towards the upper Bollinger band while the Bollinger bands began to squeeze. This means that the ETH price is going to observe sideways movements. The trade volume began to decrease on when the red candles appeared, whereas it increased when the blue candles appeared. This means that the seller pressure is weakening and the market is shifting to buyers.
The Moving Average Convergence Divergence (MACD) line moved below the signal line, and the histogram size appears to be increasing in the positive region of the technical indicator’s scale. This suggests that Ethereum has a bullish bias.
The Relative Strength Index (RSI) observed a closing value near 61.00, which suggests that the cryptocurrency is still in the neutral region; neither oversold nor overbought.
Ethereum price prediction: ETH price to hit 442?
The Trading View analyst Rocket Bomb believes that the LTC price will either rise past a falling wedge pattern and move towards the $400 mark, or it will see a downtrend below the $320 level which will then be followed by a breakout towards the upside.
Per the Ethereum price prediction, the cryptocurrency entered the falling wedge pattern by the end of July 2020. Ethereum has been trading inside this falling wedge ever since the increase in its price took place, with an exception to a false breakout towards the upside. Rocket Bomb believes that the ETH price will break upwards from this falling wedge and move past the $400 mark. The target price for this scenario is $442.79.
The chart also suggests that the cryptocurrency will rise past this falling wedge pattern after it first sees a downtrend towards the $320 mark. Per the Ethereum price prediction, this scenario also accommodates the idea of the cryptocurrency breaking past the falling wedge pattern and reaching the $442 mark.
What to expect from Ethereum?
The Trading View analyst Solldy discussed that the LTC price will test the resistance above the $360 mark. Per the Ethereum price prediction, the cryptocurrency trades inside an ascending parallel channel.
On the 28th of September, the cryptocurrency’s price rose towards the upper boundary of the ascending channel and completed the idea presented by Solldy, the analyst. However, the price turned bearish right after testing the upper resistance and fell towards the lower boundary of the ascending channel.
Disclaimer: The information provided is not a 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.