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Ethereum (ETH) Price Analysis for September 19

Mon, 09/19/2022 - 15:29
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Denys Serhiichuk
Does Ethereum (ETH) have chance for local bounceback?
Ethereum (ETH) Price Analysis for September 19
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Bulls could not seize the initiative for a long time as all of the top 10 coins have come back to the red zone.

Top coins by CoinMarketCap


The rate of Ethereum (ETH) has declined by 4.50% over the last 24 hours.

ETH/USD chart by TradingView

However, on the hourly chart, the situation is different. The price has made a false breakout of the local support level at $1,284, showing buyers' pressure. If buyers can keep the rate above the $1,300 mark, there are chances for further growth.

ETH/USD chart by TradingView

On the daily time frame, the price has bounced off the mirror level at $1,287 against the increased volume. However, it is too early to think about a fast recovery as Ethereum (ETH) needs more time to accumulate power for a midterm rise. In this case, sideways trading in the range of $1,300-$1,400 remains the more likely scenario.

ETH/USD chart by TradingView

On the bigger chart, there is also a false breakout of the mentioned level;  however, the week has just started and everything can change by Saturday. However, if a slow rise to the $1,400 zone starts, bulls have the chance to seize the initiative.

Ethereum is trading at $1,355 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