Ethereum (ETH) Price Moves Above $1,650 Despite Holesky Testnet Delay


18 Sep 2023 2:49 PM

The Ethereum (ETH) price bounced at a long-term ascending support line but has yet to initiate a significant upward movement....

  • Ethereum's price has reached a long-term ascending support line that has been in place for nearly 460 days.
  • The daily time frame technical analysis for Ethereum shows mixed readings, with the price falling since its yearly high and creating a lower high.
  • The ETH bounce validated the ascending support line, but the price has fallen slightly since.
  • The daily RSI is bullish and has generated bullish divergence, indicating a potential significant upward movement.
  • The shorter-term six-hour timeframe shows that the ETH price is trading at a confluence of critical levels, with a horizontal support area and a descending resistance line.
  • A decisive movement is expected soon, which will determine the ETH price prediction.

The sentiment of the article is mostly positive, highlighting the potential for a significant price increase in Ethereum due to the bullish signals and the validation of the ascending support line. However, there is also a mention of potential downside if the price breaks down from the support area.

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You May Ask

What is the significance of Ethereum's price reaching the long-term ascending support line?How has the daily RSI indicator been performing for Ethereum?What are the critical levels that Ethereum is currently trading at on the shorter-term timeframe?What factors are expected to determine the ETH price prediction?

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