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Ethereum Price Prediction – September 26
The Ethereum price needs to pull above the $3200 resistance level quickly so as to deny the bears the opportunity to enter the market.
ETH/USD Market
Key Levels:
Resistance levels: $3500, $3700, $3900
Support levels: $2400, $2200, $2000
Today, all digital assets in the crypto market are posting incredible gains after what looks like a successful weekend trading session. In addition, ETH/USD bullish action extended above the $3000 resistance level to touch the daily high of $3101 level. Meanwhile, an intraday high tried to form above the 9-day moving average.
Ethereum Price Prediction: What Could Be the Next Move?
Due to a strong upside movement of the coin, the Ethereum price broke free from the recent downtrend of yesterday, and today, the coin moves to touch the daily high of $3,101 level. Looking at the daily chart, the $2800 remains to be a key support zone and if it is broken, the sell-off may be extended towards the $2500 support level.
Currently, the price of the coin is changing hands at the $3083 level and the bulls are making effort to push it above the 9-day and 21-day moving averages. In other words, any reversal to the south may likely welcome the bears back into the market and the price could meet the critical supports at $2400, $2200, and $2000 levels. More so, the technical indicator Relative Strength Index (14) is moving above 45-level which indicates the continuation of the bullish trends and further resistance could be found at $3500, $3700, and $3900 levels.
Against BTC, the daily chart shows that Ethereum’s price is trading well in a strong uptrend around 0.070 BTC. As soon as the price is above the 21-day moving average, there is a possibility that additional benefits will be obtained in the long term. The next resistance key above 0.072 BTC is close to the 0.074 BTC level. If the price keeps rising, it could even break the 0.075 BTC and above in future sessions.
Meanwhile, if the bears regroup now, the 0.066 BTC and 0.064 BTC supports may play out before rolling to 0.063 BTC and below, this may create a new low for the pair. However, the daily outlook is still looking bullish as the Relative Strength Index (14) moves close to 50-level enhance the bullish movement.
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