Ethereum is an open-source project that anyone with internet access can run. It’s similar to Bitcoin in the sense of being decentralized and having no single owner or operator.
Also, it boasts some unique features like stablecoins (which are pegged by smart contracts)—DeFi apps, which combine financial tools from both centralized systems and other dapps on top.This article presents our Ethereum price prediction for October
Ethereum Technical Analysis, The week that was
Ethereum had a pretty good week, with 11.77% growth and an ending price at $3448 for the week. It dipped below $3000 on a Wednesday intraweek low before making an upward move. Ether’s price rallied this week, and it looks like the first significant support level at $2,692 is going to undergo a test.
Ethereum is making some serious moves. It broke through the 23.6% FIB of $3,369 and hit resistance at $3888 to end the week with a popping open above $3990.
Friday’s 10.36% breakout established a bullish trend and helped deliver the upside in the week.
The Coming Weeks
Ethereum’s rise to $3,679 may not happen as quickly or easily. It would need to avoid the 23% FIB of $3,369 and $3,130 pivot level, which is resistant to Ethereum prices. But even though that might be true, it still has a chance at breaking out from its current levels if there are broader market supports such.
Ethereum is trading in a $4,000 range so far and has been on an upswing. If there’s another extended breakout, it may be worth watching to see if Ethereum can test resistance at its first significant level, which sits around the $3-to-$5k mark before any pullbacks occur again.
Ethereum could easily find support at $2,972 shortly. The 38% FIB would provide another level that the crypto should avoid for now.
Ethereum Price Prediction for October 2021
Ethereum price has gone up by 20.28% in the past seven days, and there is an expectation that it might go even higher soon. The 24 hour average for today is 3.80%. In just one day, things shrank down 0.66%. This means that significant fluctuations are constantly occurring, which could lead you to think about investing now before prices increase again or drop further. The all-time high was reached back on October 5th when an Ether token cost $3541.45
According to its bullish nature, the price of Ethereum for October might range from $2969 to $4441.