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Ethereum Price Prediction: ETH/USD Reclaims $3000 Level

Ethereum Price Prediction
Ethereum Price Prediction

Ethereum Price Prediction – September 23

The Ethereum price is likely to gain ground towards $3500 as the recovery above $3200 could help to mitigate any incoming pressure.

ETH/USD Market

Key Levels:

Resistance levels: $3700, $3900, $4100

Support levels: $2500, $2300, $2100

Ethereum Price Prediction
ETHUSD – Daily Chart

At the time of writing, ETH/USD is hovering above $3100 as the coin prepares to gain more bullish signals. The movement to the upside has not allowed the market to bow to the selling activity under $3000 early this morning. At the moment, Ethereum (ETH) is trading towards the 9-day moving average. In the short term, bearish momentum is very likely especially if the bulls fail to hold the price above $3000 and the support at the lower boundary of the channel is broken.

Ethereum Price Prediction: Would Ethereum (ETH) Break Higher?

The Ethereum price may need to rise and break above the 9-day and 21-day moving averages before resuming the previous bullish trend but may likely break beneath the lower boundary of the channel at $3000 before turning bullish. Therefore, if the sellers push lower, traders can expect very strong support at $2800; this is then followed up with support at $2600. If the bears push further below, then additional supports may be located at $2500, $2300, and $2100.

On the other hand, if the buyers regroup and rebound from $3100, the first level of resistance could be found at $3500. This may be followed by reaching the potential resistance levels at $3700, $3900, and $4100 while the Relative Strength Index (14) moves above 45-level to indicate an average bullish movement within the market. Meanwhile, if the technical indicator dips beneath this level, the Ethereum price may head lower to the downside.

When compares with Bitcoin, the Ethereum price keeps trading as the bears are still dominating the market. ETH/BTC is currently trading at 7064 SAT and the bulls couldn’t push the price to the north. However, if the price drop below the lower boundary of the channel, the next key support may likely be at 6500 SAT and below.

ETHBTC – Daily Chart

However, a possible bullish movement could push the market towards the moving averages of 9-day and 21-day within the channel, a break above this barrier may enable ETH to reach a high of 7500 SAT and above but the Relative Strength Index (14) is moving around 48-level, which shows that the market might experience a sideways movement.

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