Ethereum (ETH) Price Analysis: Surges Ahead After a Rebound Above $310 Low

Ethereum (ETH) Price Analysis: Surges Ahead After a Rebound Above $310 Low

Key Highlights
Ethereum will attain a new high of $365
The biggest altcoin is approaching the high of $380

Ethereum (ETH) Current Statistics
The current price: $361.07
Market Capitalization: $40,717,683,132
Trading Volume: $13,605,136,063
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

Ethereum (ETH) Price Analysis September 27, 2020
Today, Ethereum is trading at $359 at the time of writing. The coin rebounded above the $310 support level and has been rising consistently. As the coin moves up, it has broken minor resistances at $351 and $358.

On the upside, if buyers push price above the $380 support, the biggest altcoin will resume upside momentum. The current upward move will continue as price is above the $350 support. However, if the bears break below this support level, the upward move will be interrupted.

ETH/USD -Daily Chart

ETH Technical Indicators Reading
The price is above the resistance line of the descending channel. This indicates the upward movement of the coin. Ether is also above 50% range of the daily stochastic. It indicates that the coin is in a bullish momentum.

ETH/USD – 4 Hour Chart

Conclusion
The market is currently rising after the rebound at the recent low. According to the Fibonacci tool, the coin will rise to the previous highs. On September 24 uptrend, the red retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that the market will reach the 1.272 Fibonacci extension level or $365.04 high.


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


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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.