RATE Group | Ethereum (ETH) Price Analysis – October 3
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Ethereum (ETH) Price Analysis – October 3

03 Oct Ethereum (ETH) Price Analysis – October 3

Posted at 11:17h in Ethereum News by

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Ethereum, ETHUSD, Cryptocurrencies, chartEthereum Chart by TradingView

Ethereum Price Medium-term Trend: Ranging

Supply zones: $400, $450, $500

Demand zones: $150, $100, $50

ETH continues in the range in its medium-term outlook. The bears sustained the pressure as it journeyed to lower demand area of the range making a low of $223.01 in the demand area. The hammer formation at $227.60 in the demand area had a minor effect with a push to $228.59 in the supply area before the bears returned.

The bearish 4-hour opening candle at $227.49 sustained the bearish momentum and ETH was down to $216.10 in the demand area earlier today.

The price is below the two EMAs crossover, we may see more bear pressure with the range in the medium-term as ETH ranges.

ETH is in consolidation and trading between $239.89 in the upper supply area and at $217.08 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur – patience is required to allow…

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