Ethereum (ETH) Price Analysis for September 22

The rates of most of the coins are rising; however, there are some exceptions to this rule.

ETH/USD

The rate of Ethereum (ETH) has risen by 0.73% over the previous 24 hours.

On the hourly time frame, the rate of Ethereum (ETH) is approaching the resistance level of $1,601. If the rise continues and the daily bar closes near that mark, the accumulated energy might be enough for growth to the $1,620 area soon.

A different picture can be seen on the daily chart as today’s slight rise has not affected the technical position of ETH. If bulls want to get back in the game, they need to fix the rate above the zone of $1,660.

Only in that case is a midterm rise possible.

A bearish situation remains more relevant on the weekly time frame. If the bar candle closes below the $1,600 zone, traders are likely to expect a support breakout, followed by a further drop to the $1,500 range soon.

Ethereum is trading at $1,597 at press time.

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