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Ethereum (ETH) Price Analysis for September 16

Ethereum

u.today 16 September 2022 16:27, UTC
  
Reading time: ~2 m

Bears have continued their ongoing drop as none of the top 10 coins is going up.

Top coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) keeps falling after the recent Merge.

ETH/USD chart by TradingView

On the local chart, Ethereum (ETH) has made a false breakout of the hourly resistance level at $1,479. Currently, one needs to pay close attention to the support at $1,443. If the candle closes below it, the fall may continue to the important $1,400 mark.

ETH/USD chart by TradingView

On the bigger time frame, the price has almost touched the $1,420 mark against the increased volume. If the price comes back to it, one can expect a sharp drop to the $1,300 zone next week.

ETH/USD chart by TradingView

On the weekly chart, Ethereum (ETH) is looking bearish as bulls could not keep the rise after the last bullish candle. In this case, a closure near $1,424 could be the prerequisite for a further ongoing move to the $1,200 mark by the end of the month.

Ethereum is trading at $1,453 at press time.


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