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Ethereum Price Prediction: ETH/USD Price May Head For $3800

Ethereum Price Prediction
Ethereum Price Prediction

Ethereum Price Prediction – October 15

The Ethereum price prediction steady bullish action is breaking above the $3800 barrier; although, eyes currently glued on $4000.

ETH/USD Market

Key Levels:

Resistance levels: $4300, $4500, $4700

Support levels: $3300, $3100, $2900

Ethereum Price Prediction
ETHUSD – Daily Chart

ETH/USD is seen moving to a new high after touching the daily low of $3734 to trade above $4000 while currently trades at $3812 with a bullish crossover and trend in the intraday. At the time of writing, ETH/USD keeps moving above 9-day and 21-day moving averages. Meanwhile, higher support at $3800 is expected to be a stepping stone for a comeback past $4000 and the majestic rally eyeing a $4200 resistance level.

Ethereum Price Prediction: Ethereum (ETH) Plans More Uptrends

For Ethereum price, parallel trade can only take over if the $4000 subsidy is maintained at all costs. Currently, the technical indicator Relative Strength Index (14) is moving above the 60-level at the moment by sending bullish signals which can finally encourage more buyers to enter the market.

Meanwhile, in as much as the red-line of 9-day MA remains above the green-line of 21-day MA, the coin may continue to do well and the price could hit the resistance levels at $4300, $4500, and $4700 respectively. More so, if the technical indicator decides to make a quick turn back to the lower side, then, there may be a quick bearish drop which may likely roll the market down to the support levels of $3300, $3100, and $2900.

When compares with Bitcoin, the Ethereum price is trading below the 9-day moving average as the technical indicator confirms the bearish movement by pushing the signal line below 40-level. To confirm that the market remains in the descending channel, the pair seems to be moving towards the lower boundary of the channel.

ETHBTC – Daily Chart

Meanwhile, if the buyers push the market price above the 9-day and 21-day moving averages, ETH/BTC may likely reach the resistance levels of 7000 SAT and above. On the other hand,  higher selling pressure may likely cancel the bullish pattern and this could attract new sellers coming into the market with the next focus on 6000 SAT and below.

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