According to Coindesk data, Ether (ETH) exchanged $ 4,506, down 0.5% in the last 24 -hour period, at 12:24 pm UTC on September 16, slightly sliding in the last 24 hours while the traders are struggling if this withdrawal will set up the next rally.
The view of Fundstrat
Mark Newton, global technical strategy manager at Fundstrat Global Advisors, described the decline as the correction that the market missed last week.
He does not expect Ether to fall below his anterior hollow of $ 4,233. Instead, he sees possible drops at $ 4,418 or $ 4,375 by the end of the week – levels he calls purchasing opportunities. Newton Ether Projects could climb $ 5,500 by mid-October, pointing to continuous market strength.
Technical analysis of Coindesk Research
According to the Technical Analysis Data model of Coindesk Research, Ether lost approximately 3% during the negotiation window on September 15, going from a peak of $ 4,619 to around $ 4,500.
The most steep slide occurred between 07:00 and 8:00 UTC, when prices have increased from $ 4,632 to $ 4,514. The commercial activity jumped during this period, the volume has more than double the daily average of 194,000 units and a total turnover for the session reaching 501,741 units.
After touching a hollow of $ 4,471, buyers intervened to slow down the decline. This level served as a short -term “floor”. Uplining, Ether had trouble exceeding $ 4,671, which acted as a “ceiling”.
Later in the session, between 11:00 p.m. UTC on September 15 and 00:00 UTC on September 16, the prices were stabilized. The ether increased from $ 4,497 to $ 4,505 and has shrunk in a tight band between $ 4,479 and $ 4,505. The interest of buyers of around $ 4,490 to $ 4,495 helped stabilize the market, but the token could not recover $ 4,530, showing that the sellers always had control at higher levels.
In total, the negotiation window covered a range of $ 200 between $ 4,471 and $ 4,671, highlighting increased uncertainty. The data show that the ether begins to stabilize after the net decrease, with a demand visible at lower levels but a strong resistance to caps the short -term gains.
Latest graphics analysis 24 hours a day
The most recent Coindesk data table, generated at 12:24 UTC on September 16, shows the ether holding almost $ 4,506 after a turbulent day. The token remains locked up between its floor of $ 4,471 and the ceiling of $ 4,671, with little progress in the rupture. Exchanges in the last 12 hours have been tilted to consolidation, reporting the market could wait for the next catalyst after the high sale on Monday.
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