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Ethereum (ETH) Price Analysis for October 8

Sat, 10/08/2022 - 14:22
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Denys Serhiichuk
Does Ethereum (ETH) have power to rise against market fall?
Ethereum (ETH) Price Analysis for October 8
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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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Despite the ongoing bears' pressure, the rates of some coins are growing.

Top coins by CoinMarketCap


Ethereum (ETH) could not join the list of rising coins, going down by 0.46% over the last 24 hours.

ETH/USD chart by TradingView

Ethereum (ETH) is returning to the local support level at $1,326 that was created after its false breakout. In this case, the more likely scenario is a drop to the $1,300-$1,320 zone shortly.

ETH/USD chart by TradingView

On the bigger chart, the situation remains unclear. However, one can point out the interim support level at $1,317. If the candle closes near it, there is a high chance to see a decline to the $1,280 zone.

ETH/USD chart by TradingView

On the weekly time frame, Ethereum (ETH) has not decided which way to go yet as neither bulls nor bears have seized the initiative. Respectively, one should not wait for any sharp moves from the main altcoin soon.

Ethereum is trading at $1,327 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