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Ethereum (ETH) Price Analysis for September 18

Sun, 09/18/2022 - 14:10
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Denys Serhiichuk
Has Ethereum (ETH) reached local bottom yet?
Ethereum (ETH) Price Analysis for September 18
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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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The last day of the week is likely to end bullish for the cryptocurrency market as most of the coins remain in the green zone.

Top coins by CoinMarketCap


The rate of Ethereum (ETH) has risen by 0.81% since yesterday. However, over the last week the price has dropped by 18.81%.

ETH/USD chart by TradingView

On the local chart, Ethereum (ETH) has bounced off the hourly support level at $1,423, which shows buyers' power. If the correction continues, one can expect a test of resistance at $1,460 soon.

ETH/USD chart by TradingView

On the daily chart, the rate of Ethereum (ETH) has bounced off the support level at $1,422 again. However, one needs to pay close attention to the close of the day. If the body of the bar closes near the $1,420 mark, there is a high chance to see a sharp decline to the $1,400 zone.

ETH/USD chart by TradingView

From the midterm point of view, the situation is more bearish than bullish as the weekly candle is about to close near the $1,422 mark. If buyers cannot seize the initiative, traders might see a further drop of Ethereum (ETH) to another vital point at $1,356 soon.

Ethereum is trading at $1,436 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