Ethereum Slumps as It May Revisit the $1,220 Low
Login

Ethereum Slumps as It May Revisit the $1,220 Low

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Highlights
Ether declines below the moving average lines
ETH/USD may revisit the $1,000 support

Ethereum ETH) Current Statistics
The current price: $1,273.47
Market Capitalization: $156,295,853,541
Trading Volume: $9,529,453,151
Major supply zones: $1,800, $2,000, $2,200
Major demand zones: $1, 700, $1,500, $1,300

Ethereum (ETH) Price Analysis October 10, 2022
Ethereum (ETH) is in a downtrend as it may revisit the $1,220 low. Since September 21, Ether has been confined between $1,220 and $1,400 price levels. Buyers could not break the resistance at $1,400, hence the decline. The biggest altcoin is declining to revisit the current support at $1,220. On the downside, Ether will further decline to $1,000 if the current support is breached. Nonetheless, the range-bound move will continue if the current support holds. In the meantime, Ether has reached the oversold region of the market.

Ethereum Slumps as It May Revisit the $1,220 Low
ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether has resumed selling pressure as it is at level 38 of the Relative Strength Index for period 14. The coin is approaching the oversold region of the market. Ether will decline as the price bars are below the moving average lines. The market has reached the oversold region as it is below the 20% range of the daily stochastic.

Conclusion
Ethereum is falling as it may revisit the $1,220 low. On October 8 downtrend, ETH made an upward correction and a candle body tested the 61.8% Fibonacci retracement level. The corrections suggest that ETH will fall to level 1.618 Fibonacci extension or $1,266.95.

Ethereum Slumps as It May Revisit the $1,220 Low
ETH/USD – 4 Hour Chart

You can purchase crypto coins here. Buy LBLOCK


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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News