E Point Perfect

Ethereum (ETH) Price Analysis for October 29


The market does not seem to need any time for rest as the prices of all the top 10 coins are rising.

Top coins by CoinMarketCap


Ethereum (ETH) is one of the most rising coins, its price has rocketed by 8.39%.

ETH/USD chart by TradingView

Despite the rise, Ethereum (ETH) has formed a local resistance level at $1,640 after its false breakout. However, if the rate remains above $1,600, the growth might continue tomorrow as the volume is high.

ETH/USD chart by TradingView

On the daily time frame, Ethereum (ETH) has broken the vital $1,600 mark. If bears cannot seize the initiative, the rise might continue next week, which could lead to a test of the $1,700 zone.

ETH/USD chart by TradingView

From the midterm point of view, Ethereum (ETH) has started to realize the accumulated energy.

If the situation remains the same, traders may see the price of the leading altcoin near the closest resistance at $1,789 by mid-November.

Ethereum is trading at $1,619 at press time.


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