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ETH still falling down, Ethereum Price Analysis 7 Oct – Coinnounce

ETH still falling down, Ethereum Price Analysis 7 Oct

Ethereum Price Key Features

  • Ethereum price is right now exchanging a wide range over the $210 support against the US Dollar.
  • There is a climbing channel framed with support at $222 on the 4-hours outline of ETH/USD (information feed by means of Kraken).
  • The match may decrease in the here and now towards the $214 and $210 support levels.

Ethereum price is combining versus the US Dollar and Bitcoin. ETH/USD is at a danger of a minor drawback amendment towards the $214 support level.

Ethereum Price Analysis

This previous week, there were, for the most part, go moves over the $210 support in Ethereum price against the US Dollar. The ETH/USD match exchanged higher over the $220 and $224 levels, yet it neglected to hold gains. Amid the upside move, there was a break over the $227 level and the 100 basic moving normal (4-hours). Also, the price exchanged over the half Lie retracement level of the last drop from the $240 high to $213 low.

In any case, the upside move was ensured by the $229-230 zone. Moreover, the 61.8% Lie retracement level of the last drop from the $240 high to $213 low likewise went about as a resistance. Ethereum price is gradually declining and it is as of now exchanging underneath the $227 level and the 100 SMA. There is additionally a rising channel framed with support at $222 on the 4-hours outline of ETH/USD. On the off chance that there is a drawback break underneath the channel support, the price could decrease towards the $220 and $214 support levels.

ETHUSD Price Chart 7 October

The above graph shows that Ethereum price is unmistakably attempting to pick up energy above $229-230. In the event that it keeps on flopping, there could be a bearish response underneath $214 in the close term. Until at that point, Ethereum price is probably going to exchange a range over the $214 support level in the coming sessions.

4-hours MACD – The MACD is somewhat set in the bullish zone.

4-hours RSI – The RSI is as of now close to the 50 level.

Significant Support Level – $220

Significant Resistance Level – $230

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Janet F. Sanchez

Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

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