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<h2 id="header-0">Ethereum has recovered its losses and reached the $1,300 level against the US dollar. If there is a clear rise over $1,350, ETH might start a new rally.</h2>Today&#39;s <a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">Ethereum</a> price analysis is bearish, as the coin has seen rejection throughout the previous 48 hours, despite a few moves upward. Overall, the coin has been consolidating since 22 September 2022, as the price has been closing in the same range, mostly only a few points over the $1300 level, despite the direction of the trend. However, the coin had a swing low of $1253 and the current price of $1320.After a sharp decline, Ethereum found support at $1,250. ETH fell as low as $1,253 before resuming its upward trend. The price increased rapidly and was able to break over the $1,300 barrier.Above the $1,300 level, the bulls were active. The price clearly moved over the 50% Fib retracement level of the decline from the $1,400 swing high to the $1,253 low. The price is currently trading close to $1,320 and the 100 hourly simple moving average.On the hourly chart of ETH/USD, a short-term contracting triangle is forming, with support near $1,340. On the upside, the price is facing resistance at $1,350 and $1,360 levels.The 4-hour price chart for Ethereum price analysis shows bearish momentum in the previous four hours, with price levels continuing to decline after a downward price breakthrough at the start of today&#39;s trading session. Bears appear to be gaining strength as selling pressure has returned after a brief recovery, with the currency seeking support at $1250.On the 4-hour chart, volatility is low as Bollinger bands maintain their short range, with the upper band at $1391 and the lower band at $1270; the price has stepped below the indicator&#39;s mean average line, indicating a bearish trend in the coming hours. The relative strength index is at index 47.72 after moving downwards on a downwards curve toward the center line of the neutral zone.According to <a href="https://www.coingabbar.com/en/price-analysis" rel="noopener noreferrer nofollow">Price Analysis</a>, The market capitalization of this ETH is estimated to be $161,981,265,248. The 24-hour trading volume for the coin is around $16,619,839,710. ETH market capitalization has risen by 3.43%. However, trade volume decreased by 6.04% during intraday trading. The market capitalization to volume ratio is 0.103.The next significant resistance is $1,360. It is close to the 76.4% Fib retracement level of the decline from the $1,400 swing high to the $1,253 low. A clear break over $1,365 might start a strong rise towards $1,400. Any more gains may open the door for a move towards the $1,450 barrier, over which the bulls may try for $1,500.If Ethereum fails to break over the $1,360 resistance, it may begin a new drop. On the downside, an early support level is at $1,300. In the short term, a break below the $1,300 level might push the price towards the $1,250 support. If there are any further losses, the price might fall to $1,250.KEY LEVELS :RESISTANCE LEVEL: $1280-$1220SUPPORT LEVEL: $1350-$1400ETHEREUM has been trading in the parallel channel line since last week. The new trend will be decided by breakouts. Have you seen something on a graph?

ETHEREUM PRICE ANALYSIS CMP-$1320 Price is set to fall further, trading below 100-day moving average

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Alte articole publicate pe 29 sept. 2022

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