Ethereum Price Prediction – September 14
The Ethereum price is still struggling below the resistance level of $3400 as the entire crypto market takes on recovery.
Resistance levels: $3900, $4100, $4300
Support levels: $2700, $2500, $2300
ETH/USD is seen consolidating within the channel for the past few days. At the moment, the Ethereum price is currently trading at $3391.69 as the coin remains below the 9-day and 21-day moving averages. However, at the opening of the market today, the daily chart shows that the price touches the resistance level of $3409, as the daily high but later retreating to where it currently trading at $3391 level where it could begin to correct itself.
Ethereum Price Prediction: More Dips Likely To Play Out in ETH/USD
According to the daily chart, should in case the Ethereum price break above the 9-day and 21-day moving averages, the price could reach the $3500 resistance. Meanwhile, a successful break towards the upper boundary of the channel could open the doors for a tremendous increase above the $3700 level. On the contrary, the Ethereum price is likely to rise towards the $3900, $4100, and $4300 resistance levels in the coming sessions.
However, as the technical indicator Relative Strength Index (14) moves around 50-level, moving below this level could meet the nearest support at the $3100 level. Moreover, if there is a bearish break below this support, the Ethereum price could visit another support at the $2900 level. More so, the next major support is near the $2700 level, where the bulls are likely to rebound but should in case it failed, the Ethereum price could see further losses at $2700 and $2500 support levels.
When compares with Bitcoin, the last 24-hour has appeared to be bearish for Ethereum as the market experiences a drop from the 7370 SAT side; approaching 7100 SAT support. Meanwhile, the 4-hours Relative Strength Index (14) is revealed moving below 55-level, a slight bearish confirmation.
However, has it been that the market price is not rejected at the 7370 SAT daily high? The bulls would have pushed the market back to the resistance level of 7600 SAT which is towards the upper channel. Therefore, if a breakout occurs, we can expect an immediate resistance at 7800 SAT and above. In other words, below the 9-day and 21-day moving averages, the key support could be located at 6700 and below.