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ETH Bear vs Bull. Ethereum Price Analysis 4 Oct – Coinnounce

ETH Bear vs Bull. Ethereum Price Analysis 4 Oct

Ethereum Price Key Features

  • Ethereum price discovered support close to the $213-214 zone after yesterday’s decrease against the US Dollar.
  • There was a break over a key bearish pattern line with resistance at $221 on the hourly diagram of ETH/USD.
  • The pair is presently exchanging with a positive inclination over the $218 and $220 levels.

Ethereum price is gradually recouping against the US Dollar and bitcoin. ETH/USD is probably going to adjust promote higher towards the $230 level in the close term.

Ethereum Price Analysis

Recently, we saw a noteworthy drawback move underneath $220 in Ethereum price against the US Dollar. The ETH/USD pair even broke the $218 level and exchanged towards the $213-214 support zone. A low was framed close $214 and later Ethereum price began an upward move. There was a break over the $218 resistance and the 23.6% Lie retracement level of the ongoing decrease from the $239 high to $214 low.

All the more significantly, there was a break over a key bearish pattern line with resistance at $221 on the hourly diagram of ETH/USD. The pair is currently exchanging close to the $224 level and the 100 hourly basic moving normal. Temporarily, there could be a minor drawback move towards the $221 level and the broken pattern line. On the upside, the following key resistance is at $226. It speaks to the half Lie retracement level of the ongoing decay from the $239 high to $214 low. Over this, the following obstacle for purchasers is close to the $229-230 zone. On the drawback, the $221 level is a good support, trailed by the $218 level.

ETHUSD Price Chart 4 October

Taking a gander at the diagram, Ethereum price is giving positive hints over the $218 level. For whatever length of time that the price is exchanging above $218, there could be more recuperations towards $229-230 resistance zone.

Hourly MACD – The MACD is picking up force in the bullish zone.

Hourly RSI – The RSI is currently set well over the 50 level.

Significant Support Level – $218

Significant Resistance Level – $230

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