ETH TECHNICAL ANALYSIS SEPTEMBER 28
Ether (ETH) declined from the resistance line on September 23 but found support at the moving averages, suggesting buying on dips.
The upsloping 20-day exponential moving average ($2,529) and the relative strength index (RSI) in the positive zone suggest an advantage to the buyers. If the bulls push and sustain the price above the resistance line, the ETH/USDT pair will complete a breakout above the symmetrical triangle. This setup has a target of $3,409.
Sellers may have other plans. They will try to aggressively defend the zone between the resistance line and $2,850. If the price declines sharply from the upper zone and breaks below the moving averages, this would indicate a range-bound action between $2,111 and $2,850 for some time
