Bitcoin and Ethereum are two of the most popular cryptocurrencies, but the price of Ethereum can fluctuate significantly. Since the start of this year, the price of Ethereum has been sideways. Its price ranged between 200 and 300 USD, but then started to increase during the last few months of the year. In H1 2021, it broke several price records. However, it also suffered a correction in the summer of 2021.

ETH’s support at $1,230

ETH is trading between $1,230 and $1,300, with support at the $1,230 level. However, a break of this support could lead to a short-term downside correction. The next support levels are $1,230 and $1,100. However, there are several technical factors that must be considered before placing a buy order on ETH.

The price of ETH has extended its rise beyond $1,150 and $1,200, and could still rise even further towards $1,280. It has crossed the 100 hourly simple moving average and reached a new multi-month high near $1,230. On the hourly chart, a key rising channel is forming, with support near $1,180. This suggests that the price is likely to continue higher as long as it maintains above these key support levels.

Although Bitcoin’s price is approaching $40,000, the price of ETH has yet to surpass that milestone. In three weeks, it has risen more than 100%. However, it has yet to break through its all-time high of $1,420. As such, it is unclear whether or not the altcoin will outperform BTC in the near term or underperform it.

ETH’s resistance at $1,400

Following its breakout from the $1,440 resistance level, Ethereum price has been following a bullish path. The cryptocurrency briefly exceeded the $1,550 resistance level, but has since pulled back to the 21-day simple moving average (H1). A pair’s immediate support at $1,400 is also a bullish trend line connecting the two previous levels. If Ether is able to break through this level, the wider crypto markets could continue on a rally.

Ethereum is outperforming most of the top 50 cryptocurrencies by market capitalization, and is up 13% in the last 24 hours. As of September 27, the Ethereum/USD pair was changing hands around $1,350, and briefly rose to $1,400 on Saturday. These levels are 30 percent higher than the early weekly lows.

ETH’s price has broken above $1,360 against the US dollar, and could continue its advance if it clears the $1,400 resistance zone. The cryptocurrency’s price is now trading above both the $1,350 support levels, as well as the 100 hourly simple moving average (SMA). Ethereum/USD has broken over a major bearish trend line, which was near $1,342.

Trading strategies for ETH

There are a variety of trading strategies for Ethereum, and there are many things to consider when putting one into play. One of the most common strategies involves using a stop-loss order to minimize losses. This order will close your position at a price below your stop price if the market fails to respond as you expected. As the Ethereum market moves so quickly, you will want to place your stop-loss order at a lower price than you initially planned. If you’re unsure of where to place your stop-loss order, you can use technical analysis.

Another method involves using a spread. This involves selling the same amount of ETH on one exchange and buying it on another. This strategy works well in case of strong fluctuations in the cryptocurrency sector.