Ethereum (ETHUSD) Price Holds above the $4,200.00 Supply Level

Ethereum (ETHUSD) Price Forecast: October 29

Ethereum is experiencing resurgence and remains under bullish pressure. The coin price holds above the $4,200 resistance mark, indicating that buyers are making solid progress. However, the crypto has the potential to rise further under the current trend. This upward trend reinforces positive sentiment in the cryptocurrency market and aligns with broader trends in the space. The trend will therefore move upward to a high value of $4,955.90 if buyers can exert more effort on their market tension, thereby increasing the profit of coin holders.

Key Levels:
Resistance Levels: $4,253, $4,254, $4,255
Support Levels:    $3,523, $3,522, $3,521

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

In higher time frames, the ETHUSD price holds above the $4,200 supply level, following the increase in demand from the bull on the asset.
Obviously, prices are trending above the EMA-50, suggesting a bullish trend due to the significant impact of buy investors.

The coin’s performance at its most recent high was aided by the bulls’ strong order flow at a $4,178.82 barrier level in the previous session.

The daily chart for today demonstrates a more extensive price recovery. At the time this article was written, the Ethereum price had surged to $4,254.23 above the moving average as the bulls took a position to continue the upward trend.

Therefore, maintaining the above moving averages suggests a strong chance of a bullish pattern continuation.

Therefore, a significant break above the previous high of $4,886.10 would increase the bullish pressure on the cryptocurrency.

The ETHUSD price is rising on the daily stochastic. This suggests the coin may continue to hold above the supply level. As a result, the token is predicted to reach a high of $4,955 in the coming days.

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

The coin price is presently encountering overhead resistance and remains above the supply levels in its medium-term outlook.
Furthermore, the ETHUSD pair is trending above the 50-day moving average, approaching the upper resistance, suggesting a strong uptrend.

The coin’s recent high was due to persistent bullish pressure that reached $4,189.14 in the preceding action.

As the 4-hourly chart resumes today, the Ethereum price holds above the supply level at $4,234.50.

However, the buy traders could not relent, as they aim to continue trending up and drag the crypto price to a significant level on the upside.

As the cryptocurrency price maintains across the supply levels in its medium-term outlook, the positive corrective at the aforementioned resistance level suggests that the bulls intend to push the price of ETHUSD to a high level; the $4,702.50 supply trend line may be the future target.

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