27 Jul Ethereum Price Analysis: ETH spikes more than 10 percent, retests previous swing high at $2,400
Ethereum saw a more than 10% rally on Friday 09/28 against the US Dollar, as traders cheered the recent increase in the price of both Ethereum and Bitcoin. Ethereum Price Analysis: ETH spikes more than 10% to $2,450, retests previous swing high at $2,400 Ethereum Price Analysis: ETH spikes more than 10% to $2,450, retests previous swing high at $2,400 Ethereum Price Analysis: ETH spikes more than 10% to $2,450, retests previous swing high at $2,400 The uptrend in ETH prices has been fueled by a number of factors, such as the recent influx of new investors and the launch of Ethereum 2.0. When the Ethereum platform first launched,
Ethereum Price Analysis: ETH spikes more than 10 percent, retests previous swing high at $2,400
Ethereum Price Analysis: ETH spikes more than 10 percent, retests previous swing high at $2,400 Ethereum prices have been on a tear for the past week, soaring more than 10 percent in 24 hours before retesting a previous swing high. We are seeing a similar shift in momentum, with the cryptocurrency’s price rallying to $2,400 before correcting to $2,300.. Read more about ethereum technical analysis and let us know what you think.
- Overnight, ETH continued to rise.
- Further advance is limited by $2,400 resistance.
- Ethereum is expected to fall in value later today.
After a strong rise over the previous days, prior significant resistance around $2,400 was challenged overnight, indicating that negative momentum would follow over the following 24 hours. As a result, the ETH/USD bulls are likely tired, and another pullback is expected later this week.
Heat map of cryptocurrencies. Coin360 is the source of this information.
Over the past 24 hours, the cryptocurrency market has had a strong positive trend. Bitcoin and Ethereum, the market leaders, have risen by 13.16 and 9.72 percent, respectively. With a gain of almost 19 percent, VeChain (VET) is one of the top performers.
In the past 24 hours, the price of Ethereum has moved: Around $2,400, Ethereum challenged its prior high.
Over the past 24 hours, ETH/USD has moved in a range of $2,108.83 to $2,389.17, suggesting a high level of volatility. The overall market capitalization is approximately $275.3 billion, resulting in a market domination of 17.89 percent. Trading volume has risen by 56 percent to $24.23 billion.
4-hour chart of ETH/USD: Is ETH about to retrace?
On the 4-hour chart, the Ethereum price is rejecting additional higher around $2,400 barrier, implying that ETH is headed for another multi-day correction.
4-hour chart of ETH/USD. TradingView is the source of this information.
As a robust rise over the last days retested the previous swing high around $2,400, Ethereum price action begins to trade with an increasingly optimistic market structure. Previous support of approximately $1,725 was challenged after a several-week fall of nearly 30%. With the latest challenge of the previous high of $2,400, we can observe that ETH/USD is now trading sideways.
The present rejection of additional higher could lead to a pullback later this week for Ethereum. This should bring ETH/USD back to approximately $1,725, which was the last big swing low. If Etherum can make a higher low, we may witness a much more significant reversal in the coming weeks.
Finally, before Ethereum price movement becomes positive again, a clear higher bottom over $1,725 must be established. Following that, ETH/USD must ultimately break over the $2,400 barrier. Ethereum should climb towards the previous all-time high in the coming months after a higher high is established.
Conclusion of the Ethereum Price Analysis
Bearish momentum is expected over the next 24 hours, according to Ethereum price research, as bulls have made another surge higher overnight, and additional upward is now denied. As a result, we anticipate ETH/USD to fall later this week, perhaps testing historical lows.
While you wait for Ethereum to retrace, check out our tutorials on Bitcoin fees, what you can buy with Bitcoin, and the benefits of DeFi.
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Ether, the second largest cryptocurrency by market cap, pulled back from a near-term breakout this morning, but is now attempting the test the $2,400 handle.. Read more about tko idr tradingview and let us know what you think.
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