Ethereum (ETHUSD) Eyeing a Break above $4,955 Resistance Level

Ethereum (ETHUSD) Price Forecast: October 3

The ETHUSD pair is rising again, eyeing a break above the $4,955 resistance point. The crypto will most likely continue its bullish rally, sparking renewed optimism among investors, despite global market fluctuations. A further increase in the bulls’ pressure may break up at the $4,886.10 level, and this may push the price of the cryptocurrency to the $4,955 upper high level, signaling a good buying opportunity for coin traders.

Key Levels:
Resistance Levels: $4,420.00 $4,421.00, $4,422.00
Support Levels:    $2,113.00, $2,112.00, $2,111.00

ETH (USD) Long-term Trend: Bullish (Daily Chart)

Despite sellers’ interference in the price flow, the daily market of the ETHUSD pair remains in a bullish momentum. The price has recently ignited a potential surge above the resistance level, indicating a bullish momentum.
The cryptocurrency has maintained its strength above the resistance line due to the bulls’ strong momentum at the supply value of $4,239.99 in the previous session.

As the daily chart opens today, the bulls made a corrective move to a high of $4,347.25 above the EMA-50, indicating a bullish trend and suggesting a possible buy for Ethereum long traders.

Therefore, if there is a noticeable high pressure and a break over the prior barrier of $4,886.10, the purchasing pressure on the crypto would increase.

Furthermore, the ETHUSD price may continue its upward move, as shown by the price indicator pointing in an upward direction.

If that happens, the token price may rise, reaching a high of $4,955, which would strengthen the positive trend in the long run.

ETH (USD) Medium-term Trend: Bullish (4H Chart)

In the medium term, the pair remains in a positive trend as it continues its northward trek.
A bullish trend and an increase in volatility are indicated by the Ethereum price movement towards the upper resistance above the convergent trend lines.

The token price is above the supply levels at its most recent high as a result of the bulls’ rising advance towards the $4,171.50 barrier in the previous action.

By correcting at the $4,343.46 supply value above the moving average on the 4-hourly chart, the ETHUSD pair appears appealing to buyers today, encouraging them to invest because potential future gains are possible.

Therefore, before a range breakout occurs, a possible breach above the current high level might strengthen the positive momentum and touch a $4,768.60 resistance level.

Additionally, the upward-moving daily stochastic indicates that the Ethereum price is eyeing the overhead range and may continue rising, and stay in a buy trade setting.

In light of this, the medium-term projection suggests that the coin price may soon approach the upper resistance trend point of $4,850.00.

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