ETH Price Research – September 20
Since early September, Ethereum (ETH) has been outperforming Bitcoin (BTC) after months of brutal worth drops.
Resistance ranges: $240, $250, $260
Enhance ranges: $173, $163, $153
ETHUSD – Day-to-day Chart
Taking a look at the day-to-day ETH/USD chart, we see an image of excellent well being. Purchase quantity has been development on each and every rally up, and the blue-line of the 9-day transferring moderate is crossing the 21-day transferring moderate to signify a bullish development, ETH is right here stopped at the resistance degree of $221.76, however it’s slowly retaking its capitulation toughen zone.
In a similar fashion, the day-to-day chart nonetheless presentations that Ethereum’s worth is buying and selling at $215.8 in a powerful uptrend above the 9-day and 21-day transferring averages and must the worth transfer above $221, there’s a upper risk that the worth may hit the goal resistance ranges at $240, $250 and $260. Will have to the bulls fail to take action, the worth might most likely drop to the toughen ranges of $173, $163 and $153 as the stochastic RSI is very in the overbought.
In opposition to Bitcoin, having a look at the chart, ETHBTC is bullish. The associated fee is buying and selling above the 9-day and 21-day transferring averages consolidating. The bulls are nonetheless pushing the worth upward however as of late, the bears are making effort to convey it low if they can accomplish that, the worth might most likely hit the toughen ranges at 0.017 BTC and beneath.
ETHBTC – Day-to-day Chart
Additionally, having a look at the day-to-day chart, the worth is recently retesting at a resistance degree of 0.021 BTC and the place it should most likely escape of the field. A motion above this degree may push the worth against the resistance degree of 0.024 BTC. As the buying and selling quantity will increase, the RSI (14) is already in the overbought zone which supplies an indication of promoting power in the marketplace quickly.
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