Ethereum: market analysis for October 4
Ethereum is trading sideways at the moment. The upper border of this price range is the resistance level formed on September 26 – October 1. The borders of this resistance are $1,340 – $1,400. The nearest support was formed on October 1 – 3. Its borders are $1,263 – $1,271.
This price range is likely to be broken through soon. The price is in the resistance zone now.
After the bullish candle on the Daily timeframe is closed above the resistance level the market will reverse and the uptrend will start. The first target in this case is the resistance level formed on September 9 – 12 with the borders of $1,774 – $1,789.
When breaking through the support, the trend will continue and we should look for selling opportunities. In this case the target will be around the support level with the borders of $1,006 – $1,041.
This price range is likely to be broken through soon. The price is in the resistance zone now.
After the bullish candle on the Daily timeframe is closed above the resistance level the market will reverse and the uptrend will start. The first target in this case is the resistance level formed on September 9 – 12 with the borders of $1,774 – $1,789.
When breaking through the support, the trend will continue and we should look for selling opportunities. In this case the target will be around the support level with the borders of $1,006 – $1,041.
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