It appears that the head and shoulder pattern played out and despite trying hard, Ethereum (ETH) price has been unable to break past the one hundred and eighty-five dollars ($185) mark in the past twenty-four hours (24hrs).
On the one hand, ETH price has hit the one hundred and eighty-four dollars ($184) mark thrice in the past five (5) days; however, it failed to sustain the position.
While, on the other, the ETH price has been trading below the one hundred and eighty dollars ($180) mark for the better part of the week. Whereas, Ethereum price saw the lowest point on the 11th of September at one hundred and seventy-five ($175) dollars as predicted by Cryptopolitan.com.
When would Ethereum price break-out?
Ethereum price analyst on Trading View Faibik believes that the queen of cryptocurrency is “silent before a storm.”
Faibik predicts that the price action reveals an upward movement in the days to come, and Ethereum price can hit the two hundred and seventy dollars ($270) mark.
Faibik analysis finds the support levels at one hundred and fifty-one ($151) and the lowest support level at the one hundred and forty-six dollars ($146) marks.
The analysis furthers that following the dip ETH price would take a heavy charge towards the three hundred and mark and is very likely to get past two hundred and seventy-five dollars ($275) mark.
Faibik suggested that the followers must wait until the one hundred and forty dollars to one hundred and fifty dollars ($140 – $150) range to start buying Ethereum. Possible potential for profit when selling after the surge stands at a whopping eighty-eight percent (88%).