Ethereum Hits Resistance of $395 Trading in Red Near $382

  • After the Bull run, ETH touch the resistance level of $395 and drops 0.93% in the last 24-hours  
  • The coin trading at the level of $382 with a volume of $13,892,212,236 
  • Bitcoin trading at the level of $11,410 after touching the resistance level of $11,690 and with the dominance of 58.4% 
14 oct eth 1
Source: tradingview

Ethereum gains 13% over the last seven days and after this bullish move, the coin hits the resistance level of $395 and drops around 0.93% in the last 24- hours. After touching the support level of $330, the coin gives a bullish move with the support of the global markets and makes substantial highs and lows over the 4-hours candlestick chart. 

The global crypto market capitalization decreased by 0.5% stands at $362.41B. Meanwhile, the volume in the crypto market also dropped by -22% in the last 24-hours. The ETH market capitalization stands at $43,084,456,144 and the volume traded at $13,814,692,421 in the last 24-hours.

14 o eth 2
Source: tradingview
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Relative Strength Index (RSI) indicates the bullish nature of the cryptoasset and trading at the RSI level of 60.  The indicator shows the positive momentum in the coin as trading above the bullish RSI levels.

Commodity Channel Index (CCI) also indicates the strong momentum in the coin as it is trading above the neutral level trading at +40 CCI level.

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Source: tradingview

Directional Movement Indicator (DMI) of the coin gives a crossover of +DI lines over the -DI line which indicates the positive momentum in the coming trading session. However, the support and resistance level also keep in radar. 

The indicators are in the favour of the cryptoasset and supporting the action on the coin but the resistance of $395 is the major resistance for the coin and the minor support of it is $375 and strong support is $350.

Support level: $375 and $350

Resistance level: $395 and $415

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Pratik Chadhokar
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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