{"id":176687,"date":"2023-10-18T21:41:58","date_gmt":"2023-10-18T16:11:58","guid":{"rendered":"https:\/\/dripp.zone\/news\/ethereum-price-prediction-as-demand-pressure-rises-at-1500-crypto-news\/"},"modified":"2023-10-18T21:42:00","modified_gmt":"2023-10-18T16:12:00","slug":"ethereum-price-prediction-as-demand-pressure-rises-at-1500-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-prediction-as-demand-pressure-rises-at-1500-crypto-news\/","title":{"rendered":"Ethereum Price Prediction As Demand Pressure Rises at $1500 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-161810\">\n<p>\nThe ETH price is at a critical juncture, delicately balanced between bullish and bearish outcomes; Should you keep holding?\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"681\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/XMyApFAp-e1697644226514.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"ETH price\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 10 mins ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400\">The crypto market is witnessing high volatility this week as the market participants remain uncertain regarding the updates of Bitcoin spot ETH. As a result, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/ethereum-price-prediction-will-eth-regain-1800-mark\/\">ETH price recovery<\/a> from $1530 support has started experiencing notable supply pressure around the $1600 mark. Will the failed excitement lead to further correction in Ethereum?<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/ethereum-l2-scroll-mainnet-launch-marks-milestone\/\">Ethereum L2 Scroll Mainnet Launch Marks Milestone in Ethereum Scalability<\/a><\/p>\n<h2><b>Should you Buy at $1500 Support?<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A bullish divergence in the momentum indicator RSI indicates the accelerating buying pressure at the $1500 mark<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">An upside breakout from the $1745 resistance would set a new recovery cycle in ETH<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The intraday trading volume in Ether is $4.6 Billion, indicating a 17% loss.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Ethereum Price Prediction\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/x\/XMyApFAp.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/x\/XMyApFAp.png\" alt=\"Ethereum Price Prediction\" width=\"1946\" height=\"1104\"\/><\/noscript>Source- Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400\">Over the last two months, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/ethereum\/\">Ethereum price<\/a> has been largely confined to a sideways trend, bounded by $1745 and $1630. Despite the coin making noteworthy price swings within this range, there has been no decisive move in either direction.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The attempted recovery that began on October 13th, originating from the range support at $1533, faced immediate supply pressure around $1600, stopping the coin\u2019s upward trajectory mid-way. This stalled recovery points towards a likely retest of the $1530 support level and potentially even the lower trendlines of a rising wedge pattern that has been leading ETH\u2019s price movement for the past 16 months.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Thus, the ETH price potential retest to the lower trendline could increase the demand pressure needed by buyers to escape the current consolidation. An upside breakout from the overhead resistance of $1745 would give an additional confirmation for traders to go bullish.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Is ETH Price At Risk Of Further Fall?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">In the daily time frame, the ETH price action is governed by the rising wedge formation. As long as the two trendlines defining this setup remain intact, this coin may sustain its upward trajectory, serving as a dynamic support zone for buyers during market corrections. However, if we consider a more pessimistic scenario, a breakdown below this lower boundary could spell the onset of a major correction in the Ethereum coin.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Relative Strength Index. <\/b><span style=\"font-weight: 400\">The daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">RSI<\/a> slope rise reflects the buyers\u2019 increasing accumulation at the $1500 mark.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Bollinger Band. <\/b><span style=\"font-weight: 400\">The flattish upper and lower boundary of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/bollinger-band\/\">Bollinger Band indicator<\/a> accentuates the sideways trend in this altcoin.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-demand-pressure-rises-at-1500\/&#038;text=Ethereum Price Prediction As Demand Pressure Rises at $1500 Support\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-demand-pressure-rises-at-1500\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-demand-pressure-rises-at-1500\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-demand-pressure-rises-at-1500\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA161810\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD161810\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ETH price is at a critical juncture, delicately balanced between bullish and bearish outcomes; Should you keep holding? Published 10 mins ago The crypto market is witnessing high volatility this week as the market participants remain uncertain regarding the updates of Bitcoin spot ETH. As a result, the ETH price recovery from $1530 support [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":176688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-176687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176687"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176687\/revisions"}],"predecessor-version":[{"id":176689,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176687\/revisions\/176689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176688"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}