Ethereum (ETHUSD) Price Remains Holding above the $4,450.00 Resistance Level

Ethereum (ETHUSD) Price Forecast: October 10

The ETHUSD pair is gaining traction and remains holding above the $4,450.00 resistance area, suggesting a buying signal for the coin holders. A positive breakout confirmation that closes above the $4,886.10 resistance level would indicate that the market is more optimistic. If this is done, buyers will have a stronger basis to extend this recovery. As a result, a post-retest rally may therefore raise prices and bring them to the $4,955.90 upper resistance trend line, signaling strong market optimism and potential for significant gains.

Key Levels:
Resistance Levels: $4,558.00 $4,559.00, $4,560.00
Support Levels:    $2,385.00, $2,384.00, $2,383.00

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

The daily market of ETHUSD indicates an upward trend with a bullish sentiment despite the bears’ drive.
The coin is trading above the EMA-50. Thus, staying above the moving average will enable the coin price to rise further.

The crypto price has remained above the supply levels at its latest high due to the persistent positive pressure at the $4,686.32 supply value in the last few days.

Today, the Ethereum price rebounded from the lows of yesterday at $4,432.47 to a high of $4,559.89 above the moving average as of the writing time, signaling a potential buy signal or opportunity for coin traders.

Thus, a potential breakout above the previous high barrier of $4,886.10 would bolster the recovery pattern towards the upper region before a range breakdown.

Furthermore, the daily stochastic signals an uptrend; if the bulls could push harder and sustain the ETHUSD price above the previous high, the resulting rally may surge to hit the $4,955.00 psychological level at the upside in the days ahead in its long-term perspective.

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

Despite the interference of short-term traders in the price flow, the Ethereum market suggests a bullish trend.
The coin price remains above the moving average, indicating buyers are gaining more strength.

The price remains firm above the supply levels at the recent high due to an increasing order flow by the bulls.

At the time of writing this article, and as an outcome of low bearish momentum, buyers are hindering the market from passing through the support zones.

The ETHUSD price at a $4,559.89 high value above the EMA-50 as the 4-hourly chart opens today is undeniably bullish.

To predict a bullish rise in the crypto market over the $4,735.90 supply level, buyers must therefore step up their efforts.

Additionally, with the daily signal pointing upwards, there is a possibility of a further increase in the price of Ethereum, if buyers increase their price actions and the current support level holds, a psychological key level at the $4,800.00 supply level might be reached in the upcoming days.

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