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Will ETH rise or fall? Ethereum Price Analysis 9 Oct – Coinnounce

Will ETH rise or fall? Ethereum Price Analysis 9 Oct

Ethereum Price Key Features

  • Ethereum price exchanged higher and spiked over the $230 resistance against the US Dollar.
  • There is a key rising divert set up with support at $226 on the hourly outline of ETH/USD.
  • The pair stays very much supported over the $224 and $226 levels in the close term.

Ethereum price gradually moved slightly higher against the US Dollar and bitcoin. ETH/USD could adjust lower, however, the $224 support is probably going to hold misfortunes.

Ethereum Price Analysis

There was an upside move over the $226 level in Ethereum price against the US Dollar. The ETH/USD pair spiked over the $230 resistance and shaped an intraday high at $230.74. Afterward, it began a drawback redress and declined underneath $228. There was a break underneath the 23.6% Lie retracement level of the ongoing wave from the $222 low to $230 high. In any case, there are numerous supports close to the $224 and $226 levels.

Right now, Ethereum price is trying the past resistance (now support) close $225-226. There is additionally a key rising direct set up with support at $226 on the hourly diagram of ETH/USD. Beneath the channel support, the 100 hourly straightforward moving normal is situated close to the $224 level. All the more critically, the 61.8% Lie retracement level of the ongoing wave from the $222 low to $230 high is close $225. In this way, if the price redresses lower, it is probably going to locate a strong support close $224-226. Underneath $224, the price could keep on moving down towards the $222 low in the close term.

ETHUSD Price Chart 9 October

Taking a gander at the diagram, Ethereum price is giving positive hints over the $224 support. Be that as it may, purchasers need to clear the $230 resistance zone to push the price to encourage higher. The following key resistances on the upside are seen close to the $238 and $244 levels.

Hourly MACD – The MACD is gradually moving back in the bearish zone.

Hourly RSI – The RSI is as of now put simply over the 50 level.

Real Support Level – $224

Real Resistance Level – $230

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