Key Insights
- Ethereum price faces a possible decline toward $1,800 after breaking a multi-month ascending trendline, according to Whale Factor.
- ETH must reclaim $2,400 to strengthen its recovery, while buyers monitor support around $2,300.
- An analyst identified a bullish ETH/BTC MACD crossover resembling an earlier setup associated with a 280% rally.
Ethereum price remained under pressure after an attempted recovery failed to clear $2,400. The cryptocurrency closed near $2,360 on Oct. 28 before facing renewed selling.
Meanwhile, technical commentators identified competing scenarios involving a possible $1,800 decline and a broader recovery. An ETH/BTC momentum signal also raised questions about potential Ether outperformanc
Ethereum Price Faces Its First Test Near $2,400
Ethereum fell toward $2,300 after trading near $2,800 earlier in October. The daily chart showed a recovery from the $2,320 region, but the rebound had yet to clear nearby resistance. Recent sessions showed sellers returning during rebounds toward the same price band.
Crypto analyst Ted Pillows identified $2,400 as the first level Ethereum needs to reclaim. His Ethereum price prediction placed initial resistance around the current trading range and marked another barrier near $2,537. That higher level coincided with the upper Bollinger Band shown on the daily chart.
The same indicator placed its middle band near $2,421. A move above $2,400 would therefore bring another technical level into view before ETH crypto reached the higher resistance zone. Until then, Ethereum price predictions continued to show the altcoin below the middle band following October’s decline.
ETH Crypto Broken Uptrend Highlights Lower Support
Ethereum crypto daily structure changed after the token slipped beneath an ascending trendline extending from the summer. Whale Factor showed that the trendline connected a series of higher lows before the breakdown. ETH crypto subsequently moved into the area the analyst labeled the selling zone.
Whale Factor placed the next broader recovery threshold at $2,683. A move above that boundary would return Ethereum to a higher trading range, with $3,430 appearing as an upside projection.
On the downside, Ted Pillows’ chart marked $2,320 as immediate support. The lower Bollinger Band stood near $2,305, placing two technical references close together. Whale Factor outlined a more extended bearish scenario toward $1,800 if the wider breakdown continues.
Ethereum Price Prediction Shows a Possible Recovery
A separate two-day Ethereum chart presented an alternative outlook despite the recent weakness. The chart marked approximately $2,516 as a horizontal reference level, above the current market range. A projected path showed the price moving through that area and eventually approaching the $3,000 region.
That illustration also showed a possible retreat after the projected advance. The chart followed a decline from approximately $2,800 toward the middle $2,000 region before the latest consolidation.
Another analyst focused on a fair value gap and a monthly naked point of control above $3,000. The analyst argued that Ethereum price could visit the higher reference level before a deeper correction into the gap.
ETH/BTC Chart Draws Comparison With an Earlier Rally
The Ethereum-to-Bitcoin trading pair provided a different measure of market performance. A long-term ETH/BTC chart compared the current base with an earlier consolidation that preceded a strong advance.
The Ethereum price prediction marked the previous rise at approximately 280% and proposed another large move from the current base. An increase in the ETH/BTC ratio would show Ether gaining relative to Bitcoin, even if the two assets moved very differently against the dollar.
The chart also showed a moving average convergence divergence, or MACD, crossover near the lower part of its range. The analyst compared the current indicator setup with the period of improving momentum.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments involve substantial volatility and potential losses. Readers should conduct independent research before investing.
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