Ethereum Price Analysis: Price Will Continue Rising If Bulls Increases Pressure

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ETH Price Analysis – September 14

The last three trading days has been tremendous for this coin as the price moves above $187.

ETH/USD Market

Key Levels:
Resistance levels: $200, $210, $220
Support levels: $160, $150, $140

ETHUSD – Daily Chart

This is a good time for Ethereum holders as the coin is starting to show some signs of improvement as the price moves above $187 after falling to $173.69. The cryptocurrency broke in the last 3days following a bullish continuation pattern to touch the $190.01 resistance level and holders must therefore closely monitor this coin.

Moreover, the daily chart shows that Ethereum’s price is trading well in a strong uptrend above the 21-day moving average and should the price move above $190, there is a possibility that additional benefits will be obtained in the short term and the next resistance levels lie at $200, $210 and $220. If the bulls failed, the price may likely hit the support levels of $160, $155 and $150 as the stochastic RSI moves in the overbought territory.

ETH/BTC Market

Comparing with Bitcoin, looking at the chart, ETHBTC is bullish. The price formed an ascending channel on the chart and it is above the 21-day moving average consolidating. The bulls are still pushing the price upward today but if they are able to maintain the trends, the price may likely hit the resistance levels at 0.019 BTC and above.

ETHBTC – Daily Chart

Moreover, Ethereum has been trending within the ascending channel and it may likely break out of the channel. A retracement could hit the nearest support level, re-testing the lower trend line and the major support level is 0.015 and below. The stochastic RSI is already in the overbought zone – a sign of selling pressure.

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About AzeezMustaph

Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.