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ETH will increase relatively – September 17
Energy-bargaining indicator ETH/USD market showed strength around the $1500 line. In the last seven days of operations, the price has been maintained, showing between $1,415.04 and $1,784.50, indicating low and high values. Currently, the market holds a one-minute positive percentage rate of 0.44.
Ethereum (ETH) Statistics:
ETH price now – $1,440.62
ETH market value – 176.3 billion dollars
ETH circulation supply – 122.4 million
Total supply of ETH – 122.4 million
Coinmarketcap Rank – #2
ETH increases relatively: ETH market
Key steps:
Resistance levels: $1,750, $2,000, $2,250
Support levels: $1,250, $1,050, $850
ETH/USD – Daily Chart
The ETH/USD daily chart shows that the crypto economy is building strength around the $1,500 trading level. The bullish trend is confirmed by the Stochastic Oscillators reading which currently shows 6.77 and 0.73 range points in the oversold range. The 14-day SMA indicator is at $1,603.30, closely below the 50-day SMA indicator, which is at $1,683.34. A horizontal line is drawn at the $1,000 support level.
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Could the ETH/USD market continue to pull below the $1,500 level?
According to the results of current readings of Stochastic Oscillators in the oversold region, the ETH/USD market is technically unstable to plan a sustained pullback below $1,500 as the market builds strength around the value line. Shopping activity should be in easy mode at this point. Investors should hold their positions, or add units to their portfolios in the short to medium term to run the trend lines of the SMAs before exiting later.
On the downside of technical analysis, the gravitational pressure at the $1,500 level is less of a downward movement. And that can backfire in the opposite direction in no time. Therefore, short-position positions should take careful trading principles at this time to avoid unnecessary bear traps. Sellers may need to wait for another round of Stochastic Oscillators readings in the overbought range to reconsider initiating a sell order.
ETH/BTC price analysis
Ethereum ran in correction mode against Bitcoin towards a support point around the large SMA trend line. In other words, the price of the cryptocurrency pair builds strength around the 50-day SMA indicator, which is under the 14-day SMA indicator. Stochastic Oscillators are in the oversold range, maintaining values of 10.05 and 0.00. That situation indicates that the underlying crypto will stop depreciating significantly in the short-term in reverse trading.
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