October 3rd Ethereum Price Analysis: ETH Could Drop Further If It Doesn’t Hold This Support

• Ethereum has managed to overcome the short-term downtrend, indicating a slower initial decline. The currency’s support points are at $1,635, with resistance points at $1,720.
• The currency is moving within a rectangle formation between support at $1,572 and resistance at $1,921. A clear break of one of these levels will indicate a new direction for the currency.
• The current Ethereum price is $1,651 USD, with a 24-hour trading volume of $7,051,730,295 USD. Ethereum has lost 3.72% in the last 24 hours.

Ethereum price fell sharply as futures ETFs received insufficient interest in the US: Will it fall further? Current ETH analysis!

Short-Term ETH Analysis

Ethereum has overcome the short-term downtrend, indicating a slower initial decline. The currency’s support points are at $1,635, with resistance points at $1,720. In the short term, the currency is technically evaluated as slightly negative.

Medium-Term ETH Analysis

Ethereum has overcome the upper limit of the medium-term downtrend channel, indicating a slower initial decline. The currency is moving within a rectangle formation between support at $1,572 and resistance at $1,921. A clear break of one of these levels will indicate a new direction for the currency. The currency is testing support at $1,640. This could produce a positive response, but a downward break of $1,640 would be a negative signal. Volume highs and lows align well with price highs and lows, strengthening the currency. Overall, the currency is technically evaluated as neutral in the medium term.

Long-Term ETH Analysis

Ethereum has broken the base of a long-term uptrend channel, indicating a slower initial rise. The currency is moving within a rectangle formation between support at $1,572 and resistance at $1,921. A clear break of one of these levels will indicate a new direction for the currency. The currency has broken the support level at $2,000, signaling further decline. If positive responses occur, $2,000 will now be resistance. In the long term, the currency is technically evaluated as slightly negative.

Ethereum Price

The current Ethereum price is $1,656.27 USD, with a 24-hour trading volume of $7,051,730,295 USD. Ethereum has lost 3.72% in the last 24 hours. According to the current CoinMarketCap ranking, Ethereum is ranked 2nd with a market value of $199,151,657,679 USD. There are 120,240,729 ETH tokens in circulation, with no maximum supply.