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Ethereum Price Eyes Bitcoin’s Lead: Can It Climb to a New Weekly High?

September 27, 2024Updated:September 27, 2024No Comments3 Mins Read
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Ethereum Price Eyes Bitcoin’s Lead: Can It Climb to a New Weekly High?
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Ethereum value is eyeing a recent improve like Bitcoin. ETH should surpass $2,665 to proceed increased and commerce to a brand new excessive within the close to time period.

  • Ethereum is aiming for a recent improve above the $2,665 stage.
  • The value is buying and selling above $2,620 and the 100-hourly Easy Shifting Common.
  • There was a break above a connecting bearish pattern line with resistance at $2,625 on the hourly chart of ETH/USD (knowledge feed by way of Kraken).
  • The pair should keep above the $2,600 help to begin a recent improve within the close to time period.

Ethereum Worth Eyes Extra Upsides

Ethereum value discovered help close to the $2,550 stage and began a recent improve like Bitcoin. ETH was in a position to clear the $2,600 resistance stage, however upsides had been much less in comparison with BTC.

The value climbed above the 50% Fib retracement stage of the downward transfer from the $2,700 swing excessive to the $2,554 low. In addition to, there was a break above a connecting bearish pattern line with resistance at $2,625 on the hourly chart of ETH/USD.

Ethereum value is now buying and selling above $2,620 and the 100-hourly Easy Shifting Common. On the upside, the worth appears to be going through hurdles close to the $2,665 stage. It’s close to the 76.4% Fib retracement stage of the downward transfer from the $2,700 swing excessive to the $2,554 low.

Ethereum Price Eyes Bitcoin’s Lead: Can It Climb to a New Weekly High?

The primary main resistance is close to the $2,700 stage. The following key resistance is close to $2,720. An upside break above the $2,720 resistance may name for extra good points within the coming classes. Within the said case, Ether may rise towards the $2,780 resistance zone within the close to time period. The following hurdle sits close to the $2,850 stage or $2,880.

One other Drop In ETH?

If Ethereum fails to clear the $2,665 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $2,600 stage and the 100-hourly Easy Shifting Common. The primary main help sits close to the $2,550 zone.

A transparent transfer under the $2,550 help may push the worth towards $2,525. Any extra losses may ship the worth towards the $2,480 help stage within the close to time period. The following key help sits at $2,440.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is shedding momentum within the bullish zone.

Hourly RSI – The RSI for ETH/USD is now under the 50 zone.

Main Help Degree – $2,600

Main Resistance Degree – $2,665



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