17.10.202214:20 Forex Analysis & Reviews: Ethereum analysis for October 17th, 2022.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Red lines- bearish channel

green lines- trading range

Ethereum is trading around $1,314. Price continues to respect on a daily closing basis the key horizontal support of $1,270. Price continues to move sideways since mid September inside the trading range of $1,270-$1,400. Ethereum remains vulnerable to the downside since it still inside the red downward sloping channel. The market has remained stable over the last few weeks with no clear direction. Traders better remain patient and wait for a break below $1,270 or above $1,400 in order to act. Aggressive traders will look to buy near key support of $1,270 and sell near resistance of $1,400.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2025

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade