If the Ethereum price jumps above $400 again, the next target could be $430 or even $450
As long as the price of Ethereum is over 300 dollars, this crypto currency is not in the “sell” zone
The Ethereum miners earned $214 million in October, compared to $321 million in September
The main trend of this crypto-currency remains neutral-bullish, and Ethereum (ETH) is aiming for $400 with its continuing upward trend. Ethereum’s price is still far from the ETH price forecasts, but if the price jumps above $400 again, this could be a very good opportunity for short-term traders.
Fundamental analysis: Volumes are expected to increase
The price of etherum has dropped from $420 to $373 in less than three weeks, and the current price is $382. According to the latest news, the Ethereum miners generated $214 million in October, compared to $321 million in September.
Nevertheless, there is no reason to panic, and as long as the price of Ethereum is above $300, this crypto-currency is not in the “sell” zone. It is estimated that Ethereum can be a very good investment opportunity, and some predictions say that this crypto currency could be over $1000 in the next few years.
The Ethereum network is constantly adding new customers, and the development of applications that interact with this network has never been stronger than today. The transaction volume of this crypto-currency is expected to increase and the customer base is expected to grow even further.
Once this happens, the price of this crypto currency will be at a much higher level, and Ethereum could become one of the best players in the crypto currency market in the coming period. The rise of decentralized finance (DeFi) is gaining momentum, and investors in this crypto currency can generate income from their assets with the help of DeFi tools.
A very good team is behind this project, the fundamentals of this crypto currency are constantly improving and now could be a good time to trade with Ethereum (ETH). The main trend of this crypto currency remains neutral-bullish, and Ethereum (ETH) strives for 400 dollars with a continuing upward trend.
Technical Analysis: Bulls focus on breaking through the strong resistance level at $400
According to the rules of technical analysis, the main trend of this crypto currency is neutral-bullish.
Data source: tradingview.com
On this diagram I have marked important resistance and support levels. The important support levels are $350, $325 and $300, $400 and $450 represent the resistance levels.
As long as the price is above this trend line and $300 provides support, this crypto currency is in the “buy” area and there is no indication of a trend reversal. If the price drops to the trend line and we get a “bullish” confirmation candle, this would be a very good entry point for short-term traders trading “stop loss” and “take profit” orders.
The trend line also represents a very strong support level, if the price breaks through this trend line, it would be a strong “sell” signal and we have an open path to $300. If the price jumps above $400, it would be a signal to buy Ethereum and we have an open path to $430.
If you are looking for virtual currencies with a good return, Ethereum is estimated to be a profitable investment opportunity. As long as the price is above the trend line and the support level of $300, this crypto currency remains in the “buy” zone and there is no indication of a trend reversal. If the Ethereum price jumps above $400 again, the next target could be $430 or even $450.