Ethereum (ETH) Price Analysis for October 27

The market might have found a local peak, as most of the coins are in the red zone.

ETH/USD

The price of Ethereum (ETH) has fallen by 1.71% over the last 24 hours.

On the hourly chart, the price of Ethereum (ETH) is looking bearish as the rate is coming back to the local support level of $1,774.7. If the situation does not change by the end of the day, the breakout may lead to a test of the $1,750 zone on the weekend.

On the daily time frame, the price of ETH keeps falling after a false breakout of the resistance of $1,854. At the moment, traders should focus on the $1,755 level.

If the bar closes below it, sellers may seize the initiative for the next few days.

From the midterm point of view, one should pay attention to the candle closure in terms of the level of $1,744. If the bar closes above it and with no long wick, growth may continue to the $1,900 zone in the first part of December.

Ethereum is trading at $1,777 at press time.

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