Key Highlights
Ether resumes sideways move below $380 high
The crypto targets the $420 high
Ethereum (ETH) Current Statistics
The current price: $374.87
Market Capitalization: $42,345,934,018
Trading Volume: $13,892,766,272
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100
Ethereum (ETH) Price Analysis October 11, 2020
Ethereum bulls “buy the dips” at the $335 low as the coin continues to rally to the previous highs. The current uptrend is facing resistance at the $380 high. Buyers are facing penetration difficult at the $380 resistance.
The uptrend has been suspended as the coin resumes sideways move below the resistance. The current uptrend is hampered because of the hurdle at $380. On the upside, a break above the $380 resistance will propel the price to rise and reach the $420 high. The sideways trend will continue if the bulls fail to break the resistance.
ETH Technical Indicators Reading
Ether price has broken the resistance line of the ascending channel. It indicates that the price will continue to rise. ETH has broken above the SMAs but not convincingly above the 50-day SMA. It is above 80% range of the daily stochastic. It indicates that the coin is approaching the overbought region of the market.
Conclusion
The crypto is likely to rise as it continues to retest the $380 resistance line. On September 29 uptrend, the coin was resisted but the retraced candle body tested the 50% Fibonacci retracement level. This gives us the clue that the coin will further rise to the 2.0 Fibonacci extension level. That is a high of $426.14.
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
- Broker
- Min Deposit
- Score
- Visit Broker
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
- Zero commissions and no bank fees on transactions
- Around the clock service with support in 14 languages
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated