ETH Price Prediction – September 9
Ethereum price moves to break the $350 resistance level as the coin maintains its upward movement.
Resistance levels: $420, $440, $460
Support levels: $265, $245, $225
Today, ETH/USD faces the uptrend until it finds resistance at the expected level of $345. The performance of the Ethereum market at the moment indicates the beginning of an uptrend very soon. It’s just a matter of time for this coin to reach the $480 level again.
What to Expect from Ethereum (ETH)
Looking at the daily chart, we can see that ETH/USD even spiked higher into the resistance level at $355 in the early hours of today. Therefore, if the buyers continue to push the market higher, the immediate resistance above the $410 level may be located. Above this, further resistance levels lie at $420, $440, and $460.
Alternatively, if the bears try to bring down the price below the lower boundary of the channel, the immediate support can be located at $300 which is below the trend line of the channel. Below this level, further support is found at $265, $245, and $225. Meanwhile, the RSI (14) is moving above the 40-level, suggesting that more bullish signals may come to play.
Against Bitcoin, the daily chart shows that Ethereum’s price is trading well in a strong uptrend around the 3435 SAT. As soon as the price is above the 9-day and 21-day moving averages, there is a possibility that additional benefits could be obtained in the long term. The next resistance key above this barrier is the 3700 SAT level. If the price keeps rising, it could even break the 3800 SAT and above in future sessions.
In other words, if the bears regroup now and drop below the channel, 3200 SAT and 3100 SAT supports may play out before rolling to 3000 SAT and below. However, the daily outlook is still looking bullish as the price actions remain in a consolidation mode. The RSI (14) is moving towards the 50-level and this could enhance the bullish movement for a while.