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Ethereum (ETH) Price Analysis for September 16

Ethereum (ETH) Price Analysis for September 16

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Bears have continued their steady decline as none of the top 10 coins are rising.

ETH/USD

The price of Ethereum (ETH) continues to fall after the recent consolidation.

TradingView ETH/USD Chart

On the local chart, Ethereum (ETH) has made a false breakout at the hourly resistance level at $1,479. At the moment, the $1,443 support needs special attention. If the candle closes below that, the decline could continue at the important $1,400 level.

TradingView ETH/USD Chart

In the longer term, the price has almost touched the $1,420 mark against increased volume. If the price returns to that, a sharp drop to the $1,300 zone can be expected next week.

TradingView ETH/USD Chart

On the weekly chart, Ethereum (ETH) looks bearish as the bulls failed to hold the rally after the last bullish candle. In this case, a close near $1,424 could be a prerequisite for the ongoing $1,200 level by the end of the month.

Ethereum is trading at $1,453 at press time.

Source: https://u.today/ethereum-eth-price-analysis-for-september-16

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