Ethereum Technical Analysis Report | 20th-September-2022


Uncertainty about the next US Federal Reserve rate hike is keeping Etheruem and other altcoins as well as BTC under pressure. This could change if the expected increase of 0.75% bps is selected. The bears have been defending the 20-week EMA that is $1,732 for the past few weeks. This suggests that Ether sentiment remains bearish and traders are selling on rallies. The asset price has risen by almost 5% while the volume has fallen by 14.6% in the last 24 hours. ETH dominance at present is about 17.75%.

At the time of writing, ETH was trading at $1,365.5.

Ethereum Price Chart | 20th September 2022
Ethereum (ETH) Chart

ETH after making a ‘Bullish Engulfing’ pattern at $1,422 on 29th Aug rallied up to $1,789. Post this move, the prices faced stiff resistance at $1,750 (23.6% Fibonacci Retracement Level) and witnessed a sharp correction. The asset fell almost by 17.2% making the weekly low $1,281.1. ETH has taken support and has reversed from the key level of $1,275. If the prices hold and sustains above this support then we can expect the bulls to resume the up-move whereas a break and close below the support will lead to further downfall.

  Support 2 Support 1 Asset Resistance 1 Resistance 2
$1,000 $1,275 ETH $1,750 $2,000

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in crypto assets viz. Bitcoin, Bitcoin Cash, Ethereum etc. are very speculative and are subject to market risks. The analysis by the Author is for informational purposes only and should not be treated as investment advice.



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