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Ethereum (ETH) Price Analysis for September 9

Fri, 09/09/2022 - 15:47
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Denys Serhiichuk
How long can rise of Ethereum (ETH) last?
Ethereum (ETH) Price Analysis for September 9
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 working day of the week has turned out to be bullish for the cryptocurrency market as most of the coins remain trading in the green zone.

Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) has followed the rise of Bitcoin (BTC), going up by 5%.

ETH/USD chart by TradingView

On the hourly chart, Ethereum (ETH) has made a false breakout of the local peak at $1,745 against increased volume. If the price can hold above the vital $1,700 mark until the end of the day, there are chances to see growth to the $1,800 zone soon.

ETH/USD chart by TradingView

On the daily time frame, Ethereum (ETH) has broken the level at $1,647. Currenly, one needs to pay close attention to the resistance at $1,721. If the candle closes above it, the rise may continue to the closest zone of $1,840 by mid-September.

ETH/USD chart by TradingView

On the bigger chart, Ethereum (ETH) is trading in the middle of a wide range against the rising volume. If the weekly candle can close near the $1,700 mark, one can expect a further upward move to important $2,000 mark.

Ethereum is trading at $1,720 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.