Publicat acum 15 ore
The last mid-week, the Ethereum price witnessed a nominal recuperare after hitting local support of $1243. Furthermore, with the start of a new week, the prices gain bullish momentum and challenge the overhead resistances of the 20-day EMA and the $1414 resistance level. So, will the buyers undermine this confluence of bearish oppositions this week to reach $1600?
Puncte cheie:
- The Ethereum price approaches the resistance of $1414.
- The improving sentiments with the recovery rally tease a breakout entry possibility.
- Volumul de tranzacționare pe parcursul zilei în Ethereum este de 15.77 miliarde USD, ceea ce indică o pierdere de 2.41%.
Sursă- Tradingview
Amid the recovery rally observed last weekend, the Ethereum market price reverses from the $1,243 support level. The reversal starts after a 30% drop in the market value between September 11th to September 21st.
Improvement in the underlying sentiments alleviates the selling pressure and boosts Ethereum price by 10% over the last few days. Additionally, in the previous 48 hours, the market value has risen by 6.68% resulting in two bullish engulfing candles which challenge a resistance confluence.
To prolong the uptrend, the buyers will have to exceed the overhead resistance confluence of the 20-day EMA and the horizontal level of $1414. However, the buyers must stay cautious and control their optimism as the 20-day EMA breakout rally will face opposition from a potential resistance trendline.
The technical chart shows that the Ethereum price action displays a lower high formation, generating a resistance trendline. Moreover, the resistance trendline is in confluence with the psychological mark of $1600, promising to be the next pitstop of bearish reversal.
Therefore, optimistic traders can find the $1414 level breakout as a bullish entry spot with a potential target of the $1600 supply zone. Thus, the technical analysis displays a bullish entry opportunity with a 10% to 13% bull run possibility.
From a pessimistic viewpoint, a bearish turnaround from the $1400 level will result in a lateral trend with the bottom support of $1243.
indicator tehnic-
DMI: The recovery rally over the past 48 hours influence a bullish turnaround in the DI lines, projecting a possibility of a bullish crossover. Moreover, the spiked ADX line displays an increased trend momentum.
MACD: the bullish crossover in the MACD și linii de semnal end the bearish histograms and offer a fresh uptrend.
Nivelurile de preț intraday Ethereum
- Preț spot: 1364 USD
- Tendință: bullish
- Volatility: Increasing
- Nivel de rezistență - 1414 USD și 1600 USD
- Nivel de suport - 1243 USD și 1127 USD
Conținutul prezentat poate include opinia personală a autorului și este supus condițiilor pieței. Faceți cercetările de piață înainte de a investi în criptomonede. Autorul sau publicația nu își asumă nicio responsabilitate pentru pierderea dvs. financiară personală.
Source: https://coingape.com/markets/ethereum-price-approaching-1414-teases-breakout-is-1600-within-reach/