_:n86b396e63e0141e99296b1f627156aaexb0
<http://schema.org/articleBody>
"<!-- wp:html --><p>Ethereum price analysis is bearish today as we have seen a strong retrace past previous support levels. Additionally, no reversal signs have been made, indicating that ETH/USD will drop even lower later today.</p>\n<p>Cryptocurrency heat map. Source: <a href=\"https://coin360.com/\" target=\"_blank\" rel=\"noopener\">Coin360</a></p>\n<p>The market traded in the red over the last 24 hours. The leader, Bitcoin, lost 5.32 percent, while Ethereum over 8 percent. Meanwhile, the rest of the market has traded with similar results.</p>\n<h2>Ethereum price movement in the last 24 hours: Ethereum finally breaks lower</h2>\n<p>ETH/USD traded in a range of $1,605.30 to $1,752.76, indicating strong volatility over the last 24 hours. Trading volume has increased by 28.8 percent, totaling $21 billion, while the total market cap traded around $196.41 billion, resulting in market dominance of 19.23 percent.</p>\n<p><strong></strong></p>\n<h2>ETH/USD 4-hour chart: ETH looks to break past $1,600</h2>\n<p>On the 4-hour chart, we can see strong selling currently taking place, likely leading Ethereum price to even further lows later today.</p>\n<p>ETH/USD 4-hour chart. Source: <a href=\"https://www.tradingview.com/x/OqgW3hV4/\" target=\"_blank\" rel=\"noopener\">TradingView</a></p>\n<p>Ethereum price action has moved with powerful bullish momentum earlier in September, leading towards a clean move past previous resistance levels. A new high was eventually set below $1,800, indicating strong bullish momentum overall.</p>\n<p>Further upside did not follow as buyers were finally exhausted. After an <a href=\"https://www.cryptopolitan.com/ethereum-price-analysis-2022-09-12/\">initial retrace to $1,700 </a>support, ETH/USD made a quick retest of upside, setting a clear lower local high.</p>\n<p>As a result, Ethereum price rapidly started to decline, breaking past the $1,650 next support with strong momentum. Since then, we have not seen ETH/USD experience a substantial reaction higher, meaning that further lows will likely be tested overnight.</p>\n<h2>Ethereum price analysis: Conclusion </h2>\n<p><a href=\"https://www.cryptopolitan.com/ethereum-price-prediction/\">Ethereum price analysis</a> is bearish today as we have seen a strong decline as soon as the local lower high was set at $1,760. Likely, ETH/USD will continue even lower later today and look to retrace even more.</p>\n<p>While waiting for Ethereum to move further, see our articles on how to buy <a href=\"https://www.cryptopolitan.com/how-to-buy-litecoin/\">Litecoin</a>, <a href=\"https://www.cryptopolitan.com/how-to-buy-filecoin/\">Filecoin</a>, and <a href=\"https://www.cryptopolitan.com/how-to-buy-polkadot-coin/\">Polkadot</a>.</p>\n<p><strong></strong></p><!-- /wp:html -->"
<https://cryptoweeklymag.com/2022/09/ethereum-price-analysis-eth-drops-10-percent-further-downside-incoming/>