Can ETH reach $2,660 this month?


As of now, Ethereum (ETH) is priced at $2,536.72 as per Coinpedia Markets, reflecting a 24-hour gain of 3.03%. This positive movement has sparked interest among traders and investors alike, particularly regarding ETH price prediction, with key resistance levels to watch closely.

Key Price Targets



  • Initial Resistance: The breakout above $2,550 is crucial for further gains. If confirmed, the first target is expected to be around $2,580.
  • Next Target: Should ETH surpass $2,580, it could potentially reach $2,660, translating to nearly a 7% increase from current levels.
  • Invalidation Point: A decline back below $2,500 would invalidate the breakout scenario, indicating a possible false move.

Future Projections

  • A decisive move above $2,550 could drive ETH towards the $2,580 resistance level.
  • If this level is broken, Ether may rise to around $2,620 in the near term, with further hurdles near $2,650 or $2,720.

Market Conditions

The cryptocurrency markets have shown tight consolidation over the weekend, with volatility decreasing. However, several economic indicators are set to be released this week, which could impact market dynamics.

Economic Factors to Watch


  • Retail Sales & Manufacturing Reports: Scheduled for Thursday, these reports are critical indicators of economic conditions and inflation trends.
  • CPI and Jobless Claims: Last week’s Consumer Price Index (CPI) data surprised investors by showing slightly higher inflation alongside an increase in jobless claims, creating uncertainty about the US economic outlook.
  • FOMC Minutes: Insights revealed that most Federal Reserve Committee members support a 0.5% rate reduction, with the market pricing in a 0.25% cut in November.

Upcoming Economic Data

  • September’s Retail Sales Report: This report will shed light on consumer spending habits, a leading indicator of economic health and demand-side inflation.
  • Industrial Production Data: Also set for release on Thursday, this report will detail production volumes across various US industries.
  • Homebuilder Confidence: Friday’s report will provide insights into the housing market, another essential economic indicator.

Fed Officials’ Remarks

Key Federal Reserve officials will be speaking throughout the week, including:

  • Christopher Waller (Monday)
  • Mary Daly and Adriana Kugler (Tuesday)

Earnings Reports

This week will also see earnings reports from major banks like Goldman Sachs, Morgan Stanley, and Citigroup, which could further influence market sentiment.

While ETH is showing bullish signs with the potential for continued gains, market participants should remain vigilant. The interplay between cryptocurrency movements and economic indicators could set the stage for significant price action in the coming days. Keep an eye on these developments and consider reading the Solana price prediction for further insights into altcoin trends.

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