The post ETH Price | Ethereum Price Prediction As Buyers Escape Two-Months Consolidation appeared on BitcoinEthereumNews.com.

Ethereum Price Prediction: The overhead supply at $1800 indicates the ETH price may see a minor pullback before the next leap. Published 6 hours ago Ethereum Price Prediction: Fueled by optimism over the potential approval of a Bitcoin spot ETF, the crypto market has seen a surge in buying activity over the past week. As Bitcoin touched the $35,000 mark for the first time in 2023, the ripple effect extended to altcoins which resulted in an extended recovery sentiment. Thus, the second largest cryptocurrency Ethereum broke through its last swing high resistance at $1,745, signaling more room for an upward journey. Also Read: 80% of Bitcoin Holders in Profit, What’s Next? Caution or BTC Price Rally? Is ETH Price Heading to $2000? An upside breakout from the $1745 barrier prepares the ETH price for a 12.5% jump A bullish crossover between the 20-and-50-day EMA could boost the market buying pressure. The intraday trading volume in Ether is $6.6 Billion, indicating a 34% gain. Source- Tradingview The ETH price has been on a seven-day ascent, climbing from an October 19 low of $1,643 to its current trading price of $1,786—a notable 14.10% gain. This upswing enabled Ether to shatter a crucial two-month resistance at $1,745 on October 23, liberating the coin from a sideways range and completing a bullish reversal pattern known as a double bottom.  Despite the rally, the presence of supply pressure near the $1,800 level suggests a possible short-term pullback to retest the $1,745 support. Should the Ethereum price successfully validate this level as new support, it would pave the way for an extended rally targeting the $1,970 to $2,000 range.  According to Dow Theory, breaking past the last high resistance of $1,745 could indicate an early sign of a trend reversal for Ethereum. Global In/Out of the…

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Filed under: News - @ October 25, 2023 7:14 pm