ETH Finds Support at $180 After Turning Away At Monthly High

Ethereum (ETH) Price Analysis – October 8

Ethereum has displayed an impressive move over the past few hours, touching $185 after a consistent climb and correcting a gain of +4.12% at the moment. Currently, ETH is priced at $180 after seeing a slight drop. The price would continue to swing high if the bulls can continue to sustain pressure in the market.

Ethereum (ETH) Price Analysis: 4H Chart – Bullish

Key resistance levels: $185, $190, $199
Key support levels: $178, $175, $170

Looking at the 4-hour chart, the price of ETH was rejected after retesting the October 1 high zone at $185, followed by a drop to $180. Now, the price is attempting to fall on the Stochastic RSI. And if a bearish cross plays out, Ethereum may slowly sell to the channel’s support at $178, $175 and $170.

ETHUSD-4H-Chart-October-8

Meanwhile, the crypto trading signals a bullish momentum on the RSI, although now aiming its 50 levels. Should this level produce a rebound for the market, Ethereum could retest the $185 resistance zones before surging to $190 and perhaps $199. However, the price is more likely to show weakness if the token slip beneath $180.

Ethereum (ETH) Price Analysis: Hourly Chart – Bullish

On the hourly time frame, Ethereum is looking bullish after breaking through the 7 days descending channel pattern, during yesterday’s trading. As appeared on the chart, the price has slightly bounced off at the retest zone of $180. We can expect the market to continue to buy at $185 $187 and $190 resistance if the price can hold above the retest zones.

ETHUSD-Hourly-Chart-October-8

As suggested in the technical indicators, the crypto trading signals a potential buy on the Stochastic RSI; Ethereum has remained bullish on the RSI with a possible bounce back. Otherwise, a lower drive may cause the price to sell heavily to the lowest region, corresponding to $180 break-down to $178, $176 and $174 support. For now, the bulls are still showing strength.

ETHEREUM SELL SIGNAL

Buy Sell: $179
TP: $175 / $171
SL: 186

ETH Trades Inside Wedge Pattern: Huge Volatility May Cause A Price Breakout

Ethereum (ETH) Price Analysis – September 30

 

The Ethereum market is approaching the $177 key resistance again following the last few hours bounce from $166 support. Once more, the market is up with price growth of +3.10%, making ETH to currently trade at around $175. This shows that the buyers are regrouping. We can expect a strong buy if the crypto trading signals a clear break above the key resistance. As of now, ETH remains on a medium-term bearish.

 

Ethereum (ETH) Price Analysis: Daily Chart – Bearish

 

Key resistance levels: $177, $190, $200

Key support levels: $164, $154, $150

 

While trading inside a falling wedge pattern, Ethereum is caught in the middle of consolidation for the past six days after establishing support at around $164 on September 24 but has been showing positive move over the last four hours. Now facing potential resistance at $177, the price of ETH may surge to $190 and $200 resistance if the bullish pressure becomes huge.

ETHUSD, Daily Chart – September 30

 

As we can see, the RSI looks bullish but may face rejection at the 50 level. If such a scenario occurs, we can expect a price fall to $164, $154 and $150 supports. Meanwhile, the crypto trading signals an oversold market on the Stochastic RSI oscillator. Crossing above the 20 level may allow the ETH market to go bullish.

 

Ethereum (ETH) Price Analysis: 4H Chart – Neutral

For the past few days, Ethereum is carving a slow rising wedge pattern – suggesting a bearish formation on the 4-hours chart. The bearish formation is most likely to follow a lower lows and lower highs pattern, although the price is turning bullish on the RSI indicator. If Ether can rise above the wedge pattern, the $187 and $193 and $200 resistance may play out.

ETHUSD-4H-Chart-September-30

However, close resistance lies at $177 and $180. As suggested on the Stochastic RSI, Ethereum is shooting up to confirm that the buyers have stepped back in the market. Should selling pressure occurs, the token may roll back to $170 and $164 support. A drive beneath the wedge could lead to a more serious sell-off at $158 and $153 supports.

 

ETHEREUM BUY SIGNAL

 

Buy Entry: $173

TP: $179

SL: 170