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Ethereum (ETH) Price Analysis for September 17


The weekend has started with a correction on the cryptocurrency market as most of the coins are in the green zone again.

Top coins by CoinMarketCap


Unlike other digital assets, Ethereum (ETH) keeps falling, going down by 2.75%.

ETH/USD chart by TradingView

On the hourly time frame, Ethereum (ETH) has made a false breakout of the support level at $1,418 against the increased volume. If buyers can hold this zone, there is a chance to see a test of the resistance at $1,435 shortly.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) is looking bearish as the price is very close to the support level at $1,422. If the candle closes below it, it might a reason for a sharp drop to the $1,400 area next week.

ETH/USD chart by TradingView

The situation is similar on the weekly chart as Ethereum (ETH) is likely to close below the psychological $1,500 mark. Respectively, the upcoming week might also be bearish for the main altcoin, so traders can expect to see a decline to the $1,356 mark.

Ethereum is trading at $1,426 at press time.


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