- Ethereum price prediction coming in strong for $385.
- Ethereum price rises up to the $364 mark, while support is seen at $350.
- Most analysts believe that the uptrend is likely to continue.
The Ethereum price prediction by the Trading View analyst Vince Prince has suggested that the cryptocurrency will see a downtrend towards the $340 mark soon. The cryptocurrency rose past the $360 mark on the 27th of September. Previously, it was predicted that the cryptocurrency will hit the $385 level.
Ethereum price analysis
At the time of writing, Ethereum was priced at $364.27 US Dollars on Bitstamp. The price fell to the day’s low of $347.16 on the 24-hour chart. Strong support is observed at the $350 mark.
The Trading View analyst Solldy continues to believe that the ETH price will rise towards the $385 mark soon. The cryptocurrency currently trades above an ascending support line.
Per the Ethereum price prediction, the cryptocurrency will rise towards the $385.46 level. The stop-loss was marked at $337.27 for this trade and it was supported by the Ethereum has been supported by an ascending trend line ever since it fell on the 21st of September. If this trade comes into play, the price will move towards the $385.46 mark.
Will the Ethereum price rise to $450?
The Trading View analyst Marc P Markets believes that the Ethereum price has observed a double bottom formation on the Ethereum 24-hour chart. Per the Ethereum price prediction, the cryptocurrency will see an uptrend towards the $445 mark soon.
The double pattern formation occurred at the $310.50 level and as we know that the double pattern indicates a bullish outcome of the cryptocurrency, the analyst believes that the ETH price will soon rise towards the $446.80 mark, which is the target price for this trade. The stop-loss for the pattern was marked at $216.23.
What’s next for Ethereum?
Trading View analyst Vince Prince believes that the ETH price will see a rise past the $360 mark after it breaks out of the ascending channel that it is currently in. Per the Ethereum price prediction, the cryptocurrency should fall below the $340 mark next.
Per the chart, the cryptocurrency formed a rising wedge pattern below the upper resistance level of the descending channel that it appears to trade in. Recently, the ETH price broke below the rising edge, as suggested by Prince, and it is now expected to test the upper boundary of the descending channel. Per the Ethereum price prediction, Ethereum will move towards the descending trend line and then observe an abrupt fall towards the $330 to $340 range.
Eventually, the ETHUSD pair will bounce off this support range and resume its rise towards the upper boundary of the descending channel. This time, per the analyst, the cryptocurrency will break past the descending channel formation.
Ethereum price prediction: uptrend ahead?
The Trading View analyst Mudrex is of the opinion that the ETH price will see an uptrend on the 1-day chart. Per this Ethereum price prediction, the cryptocurrency currently trades inside of the Bollinger Bands.
After obtaining support from the lower Bollinger Band, the cryptocurrency is expected to break past the midline and observe an uptrend next. The trade volume saw an increase as the cryptocurrency’s price decrease, while it decreased with an increase in price. This means that the buying pressure is weakening.
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.