After falling to $ 310, Ethereum managed to jump back to $ 380 in a short time. ETH, which declined to $ 365 in the meantime due to intraday volatility, may soon come to the agenda with the movement of the bulls, according to some signals.
Crypto Michael, one of the industry’s well-known crypto money analysts, shared the levels he followed for Ethereum in his statement on his Twitter account. Looking at the tweet shared by Michael and the graph inside, it is seen that the levels of $ 380 and $ 400 are a strong resistance point.
ETH Price Rising Target: $ 450
The analyst thinks that if the resistance point between $ 380 and $ 400 is broken, the price could go up to $ 440 and $ 450 in an instant. The experienced name, who also handled the possible fall, mentioned that $ 318 is the area of support and bounce for now. Stating that this place will be tested again, Crypto Michael did not state whether he expected a jump again.
The analyst graphically explained what could happen if this was done. According to Crypto Michael’s chart, $ 300 cannot provide support and if it goes below that, the next support level is at $ 275.
— Crypto Michaël (@CryptoMichNL) September 12, 2020
As of the time of this writing, ETH is trading at $ 365 and is indeed moving in the direction the analyst stated. ETH’s seeing $ 310 again may increase the panic.