The price of Ether (ETH), has been falling in a consistent pattern over the past few days. The price oscillated between $1,250 to $1,410 in the short-term, which suggests that demand is lower but selling is close enough to resistance. The price movements within this range are often unpredictable and random. It is therefore difficult to predict the direction of price movements within this range. The Ether-PoS merger has shown tangible improvements in blockchain technology, including an increase in daily blocks creation and a decrease in the average block time. The asset’s price has risen by approximately 4.4%, while its volume has risen by 17.4% over the past 24 hours.
ETH traded at $1,345.
ETH saw a correction after it made an ‘Evening Star’ pattern at resistance $1,750 on September 11. Prices fell by almost 30% to $1,220. It is now consolidating and trading below the 20-day moving mean in a range of $1,250 to 1,400 for the past two weeks. Technically, the asset seeks support at the horizontal trendline at $1275 and the upsloping trendline at $1250. We can expect the price to rise to $1750 and $2,000 levels, respectively, if it breaks below $1,250.
Support 2Support 1AssetResistance 1Resistance 2$1,000$1,275ETH$1,750$2,000Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that have not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, reliability, completeness, correctness, completeness, or reliability of any information, opinions, or conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in the event of changes or unforeseen events. Trading and investments in crypto assets viz. Bitcoin, Bitcoin Cash and Ethereum. These are highly speculative investments and can be subject to market risk. The Author’s analysis is intended to be informative only and should not serve as investment advice.
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