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Ethereum (ETH) Price Analysis for September 6

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Tue, 6/09/2022 - 15:52
Ethereum (ETH) Price Analysis for September 6
Cover image via www.tradingview.com

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Bulls are refusing to give up, according to the CoinMarketCap ranking.

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Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) is outperforming most of the other coins, adding roughly 4.38%.

ETH/USD chart by TradingView

Ethereum (ETH) is trying to test the resistance level at $1,678 once again after the false breakout of the support level at $1,639. If the price remains above $1,650, the rise may lead to a sharp rise to the $1,700 mark soon.

ETH/USD chart by TradingView

Ethereum (ETH) has started the day with the rise as the leading altcoin might have accumulated enough strength for growth.

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If the volume remains at the same level or increases, bulls may keep the upward move to the area above $1,700 within days.

ETH/USD chart by TradingView

Ethereum (ETH) has bounced off the $1,600 zone which means that bulls are more powerful than bears at the moment. Respectively, the next level where sellers may come back to the game is the resistance at $1,721. All in all, the test of the $1,700 mark is just a matter of time.

Ethereum is trading at $1,665 at press time.

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