Coin Gabbar Token

<h2 id="header-0">The higher price rejection on October 8 at the $1400 resistance level indicates that sellers are still exerting pressure on the market participants.</h2>The price of <a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">Ethereum</a> is currently $1338 and is down 1% from yesterday. However, the likelihood of a further 75 basis point Fed rate hike in November may be related to the current sell-off.Since the previous three weeks, the price of Ethereum has been imprisoned in a no-trading zone. The near-term prospects for Ether will be compromised by a breakout from the range barrier. The $10.3 billion intraday trading volume for Ethereum indicates a 16% loss.After the sell-off in the third week of September, which sent the ETH/USDT pair to the 0.786 Fibonacci retracement level, the price action began to move laterally. As a result, the altcoin has been oscillating between the $1400 and $1250 barriers for almost three weeks.Long-wick rejection candles on each side of the range and a decline in volume activity throughout the consolidation phase are signs of market anxiety. However, after either barrier has been crossed, such rectangular consolidation typically provides a directional move.Since there is currently a downtrend and the 0.786 FIB level is a weak support level, the price of Ethereum is more likely to continue falling. Therefore, a fall below $1250 will unleash the bearish momentum that has been building up, perhaps driving prices 20% down to the crucial threshold of $1000.On the other hand, a bullish breakout from the $1400 is a less likely option. Trades with a near goal of $1500 will have a chance to rebound if the daily candle closes above the $1420 level.Anyhow, because the price is currently in a no-trading zone, the safe traders must wait for this range breakout before positioning their funds.Technical Indicator-Bollinger band indicator: The small difference between the upper and lower bands indicates market turbulence. Additionally, a collapse below the indicator&#39;s midline will promote a decline to $1250.MACD indicator: During consolidation, a bullish crossover between the MACD and signal line shows that buyers are vying to control the trend, which provides greater weight to a breakout over $1400.Resistance levels: $1400 and $1510Levels of support: $1250 and $1000

The Price of Ethereum is likely to go below $1200.

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