Ethereum (ETH) Price Analysis: ETH Surges Ahead, Break the Resistance at $395 High

Ethereum (ETH) Price Analysis: ETH Surges Ahead, Break the Resistance at $395 High

Key Highlights
Ethereum is trading in the bull market
ETH breaks the resistance at $395, targets $430 high

Ethereum (ETH) Current Statistics
The current price: $396.05 
Market Capitalization: $44,790,814,548
Trading Volume:  $19,161,188,307
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

Ethereum (ETH) Price Analysis October 21, 2020
Ethereum is making an impressive move on the upside. Today, the buyers have broken the $380 resistance. If the current momentum is sustained, a retest at the $395 high is possible. The upside momentum will resume and price will reach the highs of $440 and$470.

However, if the buyers face another resistance at the $395 high, Ether will fall. The downtrend will resume if the price retraces below $350. The price will fall to the previous low at $310. Today, Ether has risen
and it is approaching the next resistance at $395.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The biggest altcoin is likely to rise as the price is above the SMAs. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. Ether is at level 61 of the Relative Strength Index period 14. It indicates that the market is in the bullish trend zone.

ETH/USD – Daily Chart

Conclusion
From the price action, the bulls have broken the resistance at the $395 high. The market is likely to reach the anticipated price level. On October 12 uptrend, the coin was resisted but the retraced candle body tested the 61.8% Fibonacci retracement level. This indicates that the market will rise and reach a high of level 1.618. That is the high of $433.



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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.