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Ethereum Price Prediction: ETH/USD Dives Below $3500 Again

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Ethereum Price Prediction
Ethereum Price Prediction

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Ethereum Price Prediction – September 19

The Ethereum price is approaching crucial support and the price must hold the $3300 level to climb towards $3500.

ETH/USD Market

Key Levels:

Resistance levels: $4000, $4200, $4400

Support levels: $2700, $2500, $2300

Ethereum Price Prediction
ETHUSD – Daily Chart

ETH/USD is trading down 2.32% at its current price of $3356.55, which marks a notable decline from its daily high of $3457 that was set today when the bulls attempted to spark another rally. In the near term, Ethereum (ETH) has been able to find some supports around the $3303 level, as it has bounced multiple times after visiting this level.

Ethereum Price Prediction: Ethereum Price Could Drop More

After several bullish attempts, the Ethereum price is currently experiencing a price drop. Meanwhile, before this, many traders are expecting a lot from the coin after touching the resistance level of $3543 yesterday reflecting an improvement in the Ethereum prices. However, the Ethereum price is currently moving below the 9-day and 21-day moving averages which are yet to break below the lower boundary of the channel.

However, the continuation of a bearish drop could roll the market down towards the support levels of $2700, $2500, and $2300 while a possible bullish surge could drive the market above the 9-day and 21-day moving averages to touch the nearest resistance at $3800. Meanwhile, the $4000, $4200, and $4400 may further provide resistance levels for the market. Therefore, the technical indicator Relative Strength Index (14) is facing the negative side, and staying there would cause the coin to fall more.

Against Bitcoin, the market price remains within the channel as the bears step back into the market. The Ethereum price is currently trading at 7052 SAT as the 9-day moving average crosses below the 21-day moving average to confirm the downtrend. However, if the Ethereum price continues to drop and cross below the lower boundary of the channel, the next key support could be located at 6500 SAT and below.

ETHBTC – Daily Chart

Meanwhile, on the upside, a possible bullish movement above the 9-day and 21-day moving averages may likely push the market to the upside. Once this is done, the resistance level of 7500 SAT and above could be visited. On the contrary, the Relative Strength Index (14) is seen moving below 50-level, suggesting that the market may continue to fall.

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