Two Possible Scenarios for ETH’s Price in the Coming Days

The price of Ethereum (ETH) has gained some decent ground over the last 7 days, and was able to strengthen 7.63% over the time period. However, its price has fallen 0.60% according to CoinMarketCap. At press time, the price of ETH stands at $1,275.25.

Daily chart for ETH/USDT (Source: CoinMarketCap)

The price of ETH is currently trading between the daily 9 and 20 EMA lines. There is some sell pressure present on ETH’s daily chart that has pulled ETH’s price down yesterday, and continues to pull its price down today.

The daily RSI line is slightly bearish as it is sloped negatively towards oversold territory. It is, however, still positioned above the daily RSI SMA line.

The crypto analyst, Altcoin Sherpa (@AltcoinSherpa), shared his analysis on the altcoin. In a tweet made by the analyst this morning, he stated that he is “looking for 1 of 2 scenarios.” The first scenario that he is keeping an eye on is ETH’s price continuing in $1,275 and $1,375” to then “chop around” the former based established in September before going higher.

His second scenario is that ETH’s price breaks down “below and goes to the strong demand area in $1,100-$1,200.”

4-hour chart for ETH/USDT (Source: CoinMarketCap)

The 4-hour chart for ETH is bullish as the 9 EMA line is positioned above the 20 EMA line. In addition, the shorter EMA is also acting as support for ETH’s price. A potential sign of a mini pump will be if the 4-hour RSI line crosses above the 4-hour RSI SMA line.

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