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Ethereum (ETH) Price Analysis for September 11

Sun, 09/11/2022 - 13:18
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Denys Serhiichuk
Can Ethereum (ETH) keep rising faster than other coins?
Ethereum (ETH) Price Analysis for September 11
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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The last day of the week is about to be neutral for the cryptocurrency market as some coins keep rising while others have faced correction.

Top coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) keeps rising, going up by almost 3% since yesterday.

ETH/USD chart by TradingView

On the local time frame, Ethereum (ETH) is approaching the resistance level at $1,778. Even though the daily ATR has passed, a closure near $1,780 can be a prerequisite for a squeeze to $1,800 soon.

ETH/USD chart by TradingView

On the bigger chart, the situation is also bullish as the candle is about to close near yesterday's peak at $1,789. If that happens and sellers cannot seize the initiative, there is a high chance to see a test of the mirror level at $1,819 shortly.

ETH/USD chart by TradingView

The weekly chart confirms the bullish midterm trend as the candle has a good chance to close above the vital $1,721 level. However, one should not expect further sharp growth as the leading altcoin might need more time to get power for a continued move.

Ethereum is trading at $1,772 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.