{"id":274804,"date":"2020-10-05T18:59:42","date_gmt":"2020-10-05T22:59:42","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=274804"},"modified":"2020-10-05T19:00:50","modified_gmt":"2020-10-05T23:00:50","slug":"eth-usd-market-15","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/eth-usd-market-15","title":{"rendered":"Ethereum Price Prediction: ETH\/USD Consolidating; Price Moves Above $350 Resistance Level"},"content":{"rendered":"

ETH Price Prediction \u2013 October 5<\/strong><\/p>\n

Ethereum consolidates above $350 as the technical indicator RSI (14) confirms the sideways price action.<\/p>\n

ETH\/USD Market<\/h4>\n

Key Levels:<\/p>\n

Resistance levels: $415, $420, $425<\/p>\n

Support levels: $285, $280, $275<\/p>\n

\"\"<\/a>
ETHUSD – Daily Chart<\/figcaption><\/figure>\n

Following the dip on October 2, after touching the support at $195, ETH\/USD<\/a> bulls made a comeback, sending the price above $344. Since the position at the vital $352 level has been reclaimed by the bulls. The daily chart reveals that the Ethereum (ETH) has been strengthening its bullish case towards $360. The resistance at $356 has been a hard nut to crack but ETH\/USD will need to push the market price above the 9-day and 21-day moving averages.<\/p>\n

What Is the Next Direction for Ethereum (ETH)?<\/h4>\n

At the time of trading, ETH\/USD is exchanging hands at $353 after surging only 0.26% on the day. The Bitcoin\u2019s immediate upside is capped by the 21-day (MA) in the daily range. The intraday high is now the next resistance target likely to stand in the way of the recovery to $360. Meanwhile, the technical indicator RSI (14) recovers above 50-level could likely hint that Ethereum is now at the edge of a bullish breakout. The support levels of $285, $280, and $270 may come to play if the price remains below the moving averages.<\/p>\n

ETH\/USD is seen penetrating around the 9-day and 21-day moving averages within the ascending channel. More so, the break above these moving averages is the first signal needed for a bullish to press higher. Nevertheless, ETH\/USD has to break above $380 before hitting the potential resistance levels at $415, $420, and 425.<\/p>\n

Against BTC, Ethereum is trading below the 9-day and 21-day moving averages within the channel and the price is now hovering at 3277 SAT as the RSI (14) moves in the same direction above the 44-level. Although the bears remain the dominant of the market, the bulls may need to break the above the 9-day and 21-day moving averages to take charge.<\/p>\n

\"\"<\/a>
ETHBTC – Daily Chart<\/figcaption><\/figure>\n

However, the resistance levels to be reached are located at 3550 SAT and above. Conversely, a lower sustainable move below the moving averages could attract the sellers to step back into the market with the next focus on 3000 SAT and below.<\/p>\n

<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"
ETH Price Prediction \u2013 October 5 Ethereum consolidates above $350 as the technical indicator RSI (14) confirms the sideways price action. 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