ETH Finds Support at $180 After Turning Away At Monthly High

Ethereum (ETH) Price Analysis – October 8

Ethereum has displayed an impressive move over the past few hours, touching $185 after a consistent climb and correcting a gain of +4.12% at the moment. Currently, ETH is priced at $180 after seeing a slight drop. The price would continue to swing high if the bulls can continue to sustain pressure in the market.

Ethereum (ETH) Price Analysis: 4H Chart – Bullish

Key resistance levels: $185, $190, $199
Key support levels: $178, $175, $170

Looking at the 4-hour chart, the price of ETH was rejected after retesting the October 1 high zone at $185, followed by a drop to $180. Now, the price is attempting to fall on the Stochastic RSI. And if a bearish cross plays out, Ethereum may slowly sell to the channel’s support at $178, $175 and $170.

ETHUSD-4H-Chart-October-8

Meanwhile, the crypto trading signals a bullish momentum on the RSI, although now aiming its 50 levels. Should this level produce a rebound for the market, Ethereum could retest the $185 resistance zones before surging to $190 and perhaps $199. However, the price is more likely to show weakness if the token slip beneath $180.

Ethereum (ETH) Price Analysis: Hourly Chart – Bullish

On the hourly time frame, Ethereum is looking bullish after breaking through the 7 days descending channel pattern, during yesterday’s trading. As appeared on the chart, the price has slightly bounced off at the retest zone of $180. We can expect the market to continue to buy at $185 $187 and $190 resistance if the price can hold above the retest zones.

ETHUSD-Hourly-Chart-October-8

As suggested in the technical indicators, the crypto trading signals a potential buy on the Stochastic RSI; Ethereum has remained bullish on the RSI with a possible bounce back. Otherwise, a lower drive may cause the price to sell heavily to the lowest region, corresponding to $180 break-down to $178, $176 and $174 support. For now, the bulls are still showing strength.

ETHEREUM SELL SIGNAL

Buy Sell: $179
TP: $175 / $171
SL: 186

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