Ethereum (ETH) Price Analysis for September 16
Bears have continued their ongoing drop as none of the top 10 coins is going up.
The rate of Ethereum (ETH) keeps falling after the recent Merge.
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.
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.
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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