Ethereum [ETH] Price Analysis (28/10/2020)

The Ethereum price is recovering but trails the BTC. It is up nine percent against the greenback in the last week of trading, bouncing off from critical support level.

From the daily chart, candlestick arrangement points to strength. Although prices may be wavy a few days after the close above the bull flag, it is imperative that bulls push prices above last week’s highs towards $480. This will confirm the bullish breakout pattern of early Oct and put to rest talks of bears.

On the flipside, sharp losses below the middle BB and the support trend line of the last few weeks could trigger a massive selloff towards $320 or worse in a retest.

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