Ethereum price prediction: ETH likely to hit $320, analyst

Description

Ethereum price sees a rise as the market moves into a bullish run. Ethereum is showing mixed signals at the time of writing and can sway in any direction. Ethereum can hit the $360 mark if the current support levels persist. Analysts believe Ethereum is likely to hit $320 mark, travelling in a descending channel. … Read more

  • Ethereum price sees a rise as the market moves into a bullish run.
  • Ethereum is showing mixed signals at the time of writing and can sway in any direction.
  • Ethereum can hit the $360 mark if the current support levels persist.
  • Analysts believe Ethereum is likely to hit $320 mark, travelling in a descending channel.

The Ethereum price moved above the $355 mark on the on the 25th of September. On the 24th of September, the cryptocurrency fell towards the $328 level.

1-Day Ethereum price analysis

Ethereum rose to the day’s high of $358.03 on the 25th of September. The cryptocurrency was priced at $356.48 US Dollars at the time of writing on Bitstamp. The 24-hours low was observed at the $328 mark.

What’s next for Ethereum?

The Trading View analyst Mudrex believes that the ETH price will see a consolidation phase on the 4-hour chart soon. Per the analyst, the price obtained resistance near the upper Bollinger Band and got declined there. The cryptocurrency is expected to get support from the midline and observe an uptrend.

The ETH price has been observing higher highs while trading inside the Bollinger Bands. The trade volume observed an increase when the price increased, while it decreased with a decrease in price. This means that the buying pressure has gotten strong.

The Moving Average Convergence Divergence (MACD) line appears to be moving above the signal line, while the histogram size is decreasing in the positive region. This means that the cryptocurrency is currently under a bullish bias. The Relative Strength Index (RSI) has a value near 48.00, which means it’s still in the neutral zone. Thus, the cryptocurrency is neither oversold nor overbought.

Ethereum breaks above resistance near $350

The Trading View analyst YM Group suggested that the ETH price will fall towards the $320 support.

The cryptocurrency confirmed support on the 23rd of September near the $320 support. An important resistance structure lay above the $350 mark. The analyst believes that the cryptocurrency will return towards the $320 support after turning bearish. On the 25th of September, the cryptocurrency turned bullish and rose past the $350 level. This trade will be invalidated if Ethereum finds support above the resistance structure.

What to expect from Ethereum?

The Trading View analyst dBFT is of the opinion that the ETH price will fall towards the $250 support after seeing a brief uptrend past the $360 level.

Per the analyst, Ethereum will decline on the 4-hour chart in the short-term trade. The cryptocurrency broke below the rising wedge on the 3rd of September. The idea is currently in play as the cryptocurrency turned bullish on the 25th of September. Per the analysis, the price will fall towards the $250 mark after seeing an uptrend.

ETH price moves past $354

The Trading View analyst Atlas Trades is of the opinion that the ETH price will fall towards the $324 support.

The cryptocurrency’s price ascended past the $354 level on the 25th of September instead of falling to $324. The resistance was marked at $354 by the crypto analyst. The ETH price fell towards the $324 support on the 23rd of September, after which it gradually made its way towards the $354 resistance. On the 25th of September, this idea was invalidated.

Disclaimer: The information provided is not a trading advice. newcoint.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.

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