ETH Price Prediction: Today’s Eherium Price, 31st Oct 2022

Web Desk

31st Oct, 2022. 12:30 am
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Ethereum has lost more than 3% over the past 24 hours to trade at $1,504 during the Asian session after reaching a 61.8% Fibonacci retracement level at $1,550.

The value of the major cryptocurrencies was down early on October 28 as the market lost impetus, falling from $1 trillion to $979 billion.

Investors’ attention is still primarily on US monetary policy this week. The political opposition is increasingly questioning Federal Reserve Chairman Jerome Powell on the Fed’s stance on several issues. Sen. Sherrod Brown sent the Fed chairman, who is used to dealing with political pressure, a letter of concern this week.

Today’s Ethereum Price

DATE	ETC	USD
Today	01	1,589.15

Ethereum Price Prediction

Ethereum currently has a price of $1,507 and a $22 billion 24-hour trading volume. Ethereum has lost more than 3% in the last day. With a live market worth of $184 billion, down from $191 billion yesterday, CoinMarketCap is currently ranked #2.

The ETH/USD pair has completed a 61.8% Fibonacci retracement at $1,550 and is currently holding just below it, indicating odds of a negative correction on the technical front. ETH is developing a big bearish candle on a daily time scale, which might push the price down to $1,404 or $1,246.

Leading indicators like the MACD and RSI are exiting the overbought region. Therefore, the likelihood of a negative correction below $1,550 is still very high. The levels of $1,655 or $1,700 might be reached if the price of ETH increases above $1,550. Support is still at $1,404 as of right now.

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