Este artículo también está disponible en español.
On Wednesday, Ethereum (ETH) surged above the $2,700 mark for the first time in over a week, sparking a bullish sentiment among several crypto analysts. Some suggested that the second-largest cryptocurrency will soon break from the next resistance level and reclaim the $3,000 mark.
Related Reading
Ethereum Retests $2,700
Ethereum surged above a key resistance level on Wednesday morning as most of the crypto market soared. The cryptocurrency rallied 3.1% toward the $2,700 horizontal level, hitting the $2,722 mark before retracing to $2,710.
Over the past week, ETH hovered between the $2,430-$2,650 range after failing to hold its support. This performance worried many investors and market watchers, who have heavily criticized the crypto’s price action throughout the year.
However, today’s jump represents a 5.6% increase in the weekly timeframe, which sparked a bullish sentiment among the community. Crypto trader CRG noted that Ethereum is testing a support level in its trading pair against Bitcoin (BTC) in a higher timeframe (HTF).
Per the chart, ETH/BTC is retesting an HTF support at the 0.0377 level. The 0.023-0.040 zone was a crucial area between 2020 and 2021, with ETH’s all-time high rally starting after breaking above the upper line of this range.
The trader suggested that Ethereum’s surge would be short-lived as the “King of Altcoins” has had a “disappointing” performance despite the spot ETH exchange-traded funds (ETF) approval. “ETH is like the toxic ex-gf that keeps you going back,” he jokingly stated.
Similarly, crypto analyst Michaël van de Poppe remarked that it’s time to be bullish on ETH, suggesting that there’s a “massive bullish divergence” in the one-day timeframe of the ETH/BTC chart, while it was “popping up” in the three-day timeframe. Van de Poppe pointed out that the 0.051 area is the crucial zone for a trend reversal.
ETH To Hit $3,000 In Two Weeks?
Various crypto analysts have set the $2,800 resistance level as the next crucial zone if Ethereum successfully reclaims the $2,700 mark. Analyst Crypto Yapper pointed out that ETH has registered five consecutive green daily candles since bouncing from last week’s lows.
To the analyst, if ETH breaks above the $2,800 horizontal level, the cryptocurrency will rally toward the $3,000 resistance level and potentially kickstart the altcoin season.
Similarly, van de Poppe suggested that Ethereum will break above the crucial horizontal level in the next two weeks, as it took the liquidity at the $2,450 level and “ran back up to resistance.” According to the analyst, this could propel ETH’s price to $3,000 in November.
Related Reading
ETH has been rejected from the $2,700 resistance level, hovering between the $2,680-$2,690 price range for the past hour. As of this writing, the cryptocurrency trades at $2,693, a 1.4% and 3.3% increase in the daily and monthly timeframes.
Nonetheless, it’s worth noting that the crypto market might continue facing high volatility over the next few days as speculation increases ahead of the US presidential elections.
Featured Image from Unsplash.com, Chart from TradingView.com
Este artículo también está disponible en español.
On Wednesday, Ethereum (ETH) surged above the $2,700 mark for the first time in over a week, sparking a bullish sentiment among several crypto analysts. Some suggested that the second-largest cryptocurrency will soon break from the next resistance level and reclaim the $3,000 mark.
Related Reading
Ethereum Retests $2,700
Ethereum surged above a key resistance level on Wednesday morning as most of the crypto market soared. The cryptocurrency rallied 3.1% toward the $2,700 horizontal level, hitting the $2,722 mark before retracing to $2,710.
Over the past week, ETH hovered between the $2,430-$2,650 range after failing to hold its support. This performance worried many investors and market watchers, who have heavily criticized the crypto’s price action throughout the year.
However, today’s jump represents a 5.6% increase in the weekly timeframe, which sparked a bullish sentiment among the community. Crypto trader CRG noted that Ethereum is testing a support level in its trading pair against Bitcoin (BTC) in a higher timeframe (HTF).
Per the chart, ETH/BTC is retesting an HTF support at the 0.0377 level. The 0.023-0.040 zone was a crucial area between 2020 and 2021, with ETH’s all-time high rally starting after breaking above the upper line of this range.
The trader suggested that Ethereum’s surge would be short-lived as the “King of Altcoins” has had a “disappointing” performance despite the spot ETH exchange-traded funds (ETF) approval. “ETH is like the toxic ex-gf that keeps you going back,” he jokingly stated.
Similarly, crypto analyst Michaël van de Poppe remarked that it’s time to be bullish on ETH, suggesting that there’s a “massive bullish divergence” in the one-day timeframe of the ETH/BTC chart, while it was “popping up” in the three-day timeframe. Van de Poppe pointed out that the 0.051 area is the crucial zone for a trend reversal.
ETH To Hit $3,000 In Two Weeks?
Various crypto analysts have set the $2,800 resistance level as the next crucial zone if Ethereum successfully reclaims the $2,700 mark. Analyst Crypto Yapper pointed out that ETH has registered five consecutive green daily candles since bouncing from last week’s lows.
To the analyst, if ETH breaks above the $2,800 horizontal level, the cryptocurrency will rally toward the $3,000 resistance level and potentially kickstart the altcoin season.
Similarly, van de Poppe suggested that Ethereum will break above the crucial horizontal level in the next two weeks, as it took the liquidity at the $2,450 level and “ran back up to resistance.” According to the analyst, this could propel ETH’s price to $3,000 in November.
Related Reading
ETH has been rejected from the $2,700 resistance level, hovering between the $2,680-$2,690 price range for the past hour. As of this writing, the cryptocurrency trades at $2,693, a 1.4% and 3.3% increase in the daily and monthly timeframes.
Nonetheless, it’s worth noting that the crypto market might continue facing high volatility over the next few days as speculation increases ahead of the US presidential elections.
Featured Image from Unsplash.com, Chart from TradingView.com
where to buy clomid without dr prescription how to get cheap clomid without dr prescription how can i get clomiphene price generic clomiphene tablets can i purchase generic clomid for sale can you buy clomid without rx can i buy cheap clomid
More delight pieces like this would urge the web better.
Thanks on putting this up. It’s well done.
purchase azithromycin generic – ofloxacin price buy generic metronidazole
buy semaglutide without prescription – brand cyproheptadine 4mg order cyproheptadine 4mg sale
domperidone over the counter – flexeril for sale buy cyclobenzaprine 15mg generic
buy amoxil without prescription – purchase diovan generic combivent 100mcg pills
purchase amoxiclav – atbio info ampicillin order online
buy generic nexium online – anexa mate purchase esomeprazole pill
buy cheap medex – anticoagulant brand cozaar 25mg
order mobic 15mg sale – https://moboxsin.com/ brand mobic
purchase deltasone generic – https://apreplson.com/ deltasone price
buy ed pills for sale – https://fastedtotake.com/ cheap erectile dysfunction
amoxicillin over the counter – comba moxi buy generic amoxil
purchase forcan – https://gpdifluca.com/ diflucan tablet
purchasing cialis – https://ciltadgn.com/# where can i buy cialis online in australia
buy ranitidine generic – https://aranitidine.com/# ranitidine drug
how much tadalafil to take – cialis online without pres cialis erection
Facts blog you possess here.. It’s severely to find high calibre writing like yours these days. I honestly appreciate individuals like you! Withstand guardianship!! this
viagra sale online uk – https://strongvpls.com/ buy viagra from pfizer
More posts like this would add up to the online elbow-room more useful. https://buyfastonl.com/
I couldn’t hold back commenting. Well written! https://ursxdol.com/synthroid-available-online/
More posts like this would persuade the online time more useful. cialis et levitra