Ethereum (ETH/USD) Price Trades in $3,500 and $3,000 Ranges
September 13, 2021
Ethereum Price Prediction – September 13
The ETH/USD price trades in $3,500 and $3,000 ranges since the last time it witnessed a decline in valuation. The crypto market makes a record of a percentage rate of around -6.32, trading at a level of about $3,190. The downward forces seem to be dominating the market relatively as of writing.
Resistance levels: $3,500, $3,750, $4,000
Support levels: $3,000, $2,750, $2,500
ETH/USD – Daily Chart
The ETH/USD daily chart exhibits the crypto-economic price trades in $3,500 and $3,000 ranges as a line of candlesticks has formed to indicate the degrees of ups and downs. The 14-day SMA trend line is closer beneath the higher value range above the 50-day SMA trend line. The bullish trend line drew around the trend line of the bigger SMA to place a supportive mark at the lower value range line. The Stochastic Oscillators are in the oversold region, seemingly striving to cross the lines back northbound.
Has the ETH/USD entered back into a range-bound trading situation as price trades in $3,500 and $3,000?
It appears that the ETH/USD market has again entered another round of range-bound trading situations as the crypto’s price trades in $3,500 and $3,000 ranges presently. It would be more technically ideal that bulls stay on the lookout for the possibility of getting a decent entry to launch a buy position when the market’s active downward motion appears to show a sign of exhaustion around the lesser value point mentioned earlier.
On the downside, it would be safe that the ETH/USD market bears be on the lookout for the possibility that price can be resisted around the higher range line at $3,500 before a re-launch of sell order could be. The reading of the Stochastic Oscillators suggests that the downward force, breaking down the lower range line, lacks sustainability.
ETH/BTC Price Analysis
In comparison, it also depicted on the ETH/BTC price analysis chart that the cryptocurrency pair’s price trades in ranges while a correction is made. All the indicators yet point toward the north. The 14-day SMA trend line is above the 50-day SMA trend line as the bullish trend line is a supportive trading tool to the smaller SMA. Candlesticks have gently formed southward to touch the smaller SMA, denoting a high level. That shows that base crypto still somewhat possesses the trending capability in the market more than the flagship cryptocurrency.
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