ETH Price Analysis: As Bitcoin Parties, Ethereum Sheds 25% BTC-Wise Since Sept.

[sneakyboi]

ETH Price Analysis: As Bitcoin Parties, Ethereum Sheds 25% BTC-Wise Since September

Ethereum saw a 4% price increase over the past 24 hours of trading after rebounding from the 2019 highs. Against Bitcoin, Etheruem has dropped through a 3-month-old consolidation pattern as it falls below the September lows.

ETH-USD Short Term Price Prediction

Looking ahead, if the buyers continue to push above $390, the first level of resistance lies at $396 (bearish .5 Fib Retracement & October highs). Following this, resistance lies at $400, $410, and $416 (bearish .618 Fib Retracement).

On the other side, if the sellers push lower, the first level of support is expected at the $364 level (2019 highs). Beneath this, additional support is found at $355, $345 (100-days EMA), and $336.

The RSI rebounded from the mid-line to show the buyers are refusing to give up their control of the market momentum.


Learn more about the news here.