Ethereum price observed a short-lived increase in price just as the calendar turned towards the 18th of September. Atlas Trades from Trading View is of the opinion that the ETH price will first move sideways and then test the $408 resistance. Ethereum continues to be under the influence of Bitcoin price movement, unable to break free.
1-Day Ethereum price analysis
The ETH price was recorded at $382.09 US Dollars at the time of writing on Bitstamp. The price rose to a day’s high of $394.22. While, the 24-hours low was found at the $375 mark.
Ethereum to break past $394 or fall to $350?
The Trading View analyst Sadovoy Trade is of the opinion that the ETHUSD pair will have to break above the $394 resistance soon or it will drop to lower support levels.
In their analysis, the analyst highlighted the important support levels at $351.83, $307.08, $282.83, and $252.00. The cryptocurrency has been testing the $394 resistance level for the past week. The analyst believes that the cryptocurrency has to breakthrough this key resistance level if it continues to rise on its charts, otherwise the price line will tire out into a bearish trend towards the lower support levels. Continue Reading