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Ethereum (ETH) Price Analysis for October 26

Wed, 10/26/2022 - 14:54
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Denys Serhiichuk
Has Ethereum (ETH) entered midterm bull run yet?
Ethereum (ETH) Price Analysis for October 26
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls are back in the game as all of the top 10 coins are in the green zone.

Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) is the biggest gainer today, rocketing by 13.15% over the last 24 hours.

ETH/USD chart by TradingView

On the hourly chart, Ethereum (ETH) has formed the support level at $1,480.90 with a false breakout. Meanwhile, the resistance was formed at the $1,557 mark. At the moment, one needs to pay close attention to $1,500.

Related
ETH and SOL Price Analysis for October 24

If bulls can hold the price above this level until the end of the day, the growth might continue.

ETH/USD chart by TradingView

On the daily time frame, Ethereum (ETH) has kept the rise after the breakout of the resistance at $1,407. There are high chances to see the further upward move as the main altcoin has accumulated enough energy in the wide channel for more than one month for a midterm bull run. If the rise continues, one can expect a test of the $1,789 level by mid-November.

ETH/BTC chart by TradingView

A similar situation is on the chart against Bitcoin (BTC), as the price of ETH blasted after the breakout of the BTC 0.017175 mark. The nearest area at which bulls might face bears' pressure is the BTC 0.077 zone.

Ethereum is trading at $1,519 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.