Ethereum price forecast – September 17
Ethereum’s price forecast has fallen 1.15% over the past trading hours as the cryptocurrency falls below $ 3,600.
ETH / USD market
Resistance levels: $ 4,000, $ 4,200, $ 4,400
Support levels: $ 3,000, $ 2,800, $ 2,600
Since yesterday, ETH / USD has not been able to rise much higher from the $ 3,500 level as the market began to crash and fall into the channel. As of this writing, the price of Ethereum is still above the 9-day and 21-day moving averages, but if the bulls step back into the market, the price could rise higher and rise higher.
Ethereum price forecast: The price of Ethereum is not ready to rise
According to the daily chart, if sellers continue to increase downward pressure The price of Ethereum, the initial support was expected to be $ 3,300, while additional support can be found below the channel’s lower limit of $ 3,000, $ 2,800 and $ 2,600. Meanwhile, if bulls can defend the $ 3,500 support level and allow Ethereum (ETH) to recover, the first resistance could be above the 9-day and 21-day moving averages at $ 3,700. In addition, additional resistance levels are expected to be $ 4,000, $ 4,200 and $ 4,400.
In addition, the Relative Strength Index (14) of the technical indicator is seen to be moving around 55, indicating that the previous upward pace is likely to fade. If the technical indicator manages to stay above the 50 level, the bull has a chance to let Ethereum rise to $ 3,600. However, if the price of Ethereum penetrates below the current market value, the cryptocurrency may continue to fall.
Compared to Bitcoin, the price of Ethereum is shifting sideways, especially in recent days. The Ethereum (ETH) is likely to break under the flat rate in 7300 SAT and may further fall below the 9-day and 21-day moving averages. Similarly, the Relative Strength Index (14) reveals that the market may fall when the signal line moves below the 55 level.
However, ETH / BTC is in a neutral market situation as it could manage to rise above 7500 SAT. However, if it falls below 7300 SAT, the market should be considered declining and they could find a level of support of 6500 SAT and below. To rise, the price of Ethereum must rise much higher to exceed the 8000 SAT level and above.
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