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Ethereum Price Prediction: The Future Looks Bright as ETH/USD Moves Above $175

ETH Price Prediction – September 30

Ethereum (ETH) price recovers and moves towards the Ichimoku Cloud, further recovery is possible once the price crosses above $180.

ETH/USD Market

Key Levels:

Resistance levels: $220, $230, $240

Support levels: $135, $125, $115

ETHUSD – Daily Chart

ETH/USD touched $181.21 before retreating to $177.93 as at the time of writing. The second-largest digital coin with the current market value of $19.2 billion has gained over 5% since the beginning of the day on the back of the global recovery on the cryptocurrency market, triggered by Bitcoin’s move above $8,000. Ethereum price is trading in the green as the bulls are trying to escape a bearish pennant structure via the daily trading.

Ethereum price had been consolidating over the last six sessions following the steep fall that occurred on September 20-24. Meanwhile, the coin opened with a downtrend today but currently trading in an upward trend. ETH/USD holds a high possibility of bringing the upsurge in the market, but that might be postponed due to the heavy market bearish pressure.

Furthermore, ETH/USD has been trading within the descending channel and below the Ichimoku cloud, but any crossover above the channel could take the price to the nearest resistance level of $200. More so, if the bulls can break $200 level and cross over the Ichimoku cloud indicator, higher resistance lies at $230 and $240 levels.

However, should the coin drops below $150; ETH/USD would continue to show low prices and may likely fall to the support levels of $135, $125 and $115. But for the moment, a new low is yet to be determined as the bulls still remain dominant and active. To confirm this, the stochastic RSI is recovering from the oversold to show that the bulls could return back to the market once it turns upward.

Against BTC, Ethereum has continued to trade above the Ichimoku cloud and is now hovering at 0.021 BTC as stochastic RSI moves above level 40. The pair seems to be moving towards the potential resistance levels of 0.024 BTC and 0.025 BTC.

ETHBTC – Daily Chart

But a lower sustainable move will cancel the bullish pattern and attract new sellers to the market with the next focus on 0.018 BTC and 0.017 BTC support levels.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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      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.