• Etheruem saw a 6.3% price rise this week as it hits $375 today.
  • The coin bounced 7% from yesterday’s low.
  • Against Bitcoin, ETH reached as high as 0.0371 BTC during the weekend. It has since dropped to 0.0352 BTC.

ETH/USD – Ethereum Bulls Attempting To Wake Up

Key Support Levels: $364, $350, $336.
Key Resistance Levels: $390, $400, $410.

Last week, Etheruem managed to rebound from the support at $336 as it started to push higher. It managed to reach as high as $390 over the weekend before it fell back into the 2019 High at $364.

The bulls defended 2019’s high when yesterday’s candle closed above it. Buyers have attempted to rebound today as they push toward $375. If they can continue to defend the support at $364, Ethereum might have a chance at closing above $400 by the end of this week.

ETH/USD. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, the first level of resistance lies at $390. This is followed by resistance at $400 (bearish .5 Fib Retracement), $410, and $420 (bearish .618 Fib Retracement). Added resistance lies at $438 (August 2018 high), $445, and $475.

On the other side, the first level of support lies at $364 (2019 High). This is followed by support at $350, $336, and $324 (.618 Fib Retracement). The last level of support to mention is located at $300.

The RSI has reached the mid-line to indicate indecision within the market. If it can continue further beyond the mid-line, the bulls will take charge of the market momentum moving forward.

ETH/BTC – Bulls Meet Resistance at 0.0317 BTC (bearish .618 Fib).

Key Support Levels: 0.0352 BTC, 0.0347 BTC, 0.0337 BTC.
Key Resistance Levels: 0.0361 BTC, 0.0371 BTC, 0.038 BTC.

Ethereum rebounded from the strong 0.0329 BTC (.5 Fib Retracement) last week, which allowed it to push beyond the March 2019 high at 0.0361 BTC over the weekend.

The buyers managed to drive ETH as high as 0.0371 BTC (bearish .618 Fib Retracement) over the weekend, where the sellers stepped in and pushed the market lower. ETH dropped into the support at 0.0347 BTC, where it bounced to trade at 0.0352 BTC today.

ETH/BTC. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, the first level of resistance lies at 0.0361 BTC (March 2019 High). This is followed by resistance at 0.0371 BTC (bearish .618 Fib Retracement), 0.038 BTC, and 0.0386 BTC (bearish .785 Fib Retracement). Added resistance is found at 0.039 BTC and 0.04 BTC.

On the other side, if the sellers push beneath 0.0352 BTC, the first level of support lies at 0.0347 BTC. This is followed by support at 0.0337 BTC (March 2019 Support), 0.0329 BTC (.5 Fib Retracement), and 0.032 BTC.

The RSI recently dipped back beneath the mid-line in this market to indicate indecision within the market. If it continues to sink further beneath this level, the bearish momentum will increase and is likely to push ETH/BTC lower.

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited – first 200 sign-ups & exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

(Excerpt) Read more Here | 2020-09-14 08:31:31
Image credit: source


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.