Ethereum Price Surge Coming? Experts Weigh In!


Market experts will be watching ETH closely as recent patterns suggest that the cryptocurrency could be on the verge of a new price surge. Ethereum (ETH) is expected to face pressure around the critical $2,400 mark, which may spark concern among investors hoping for a rally.

If ETH briefly dips below this level but manages to rebound to $2,440, bulls could find renewed optimism. However, for Ethereum price to enter a sustained upward trend, it will need to break through significant resistance, particularly around the 200-day EMA at $2,758.

Key Levels to Watch



  • $2,400 Support: This level has acted as crucial support, with any failure here potentially leading to a deeper decline. Analysts warn that a sustained dip below $2,400 could push Ethereum toward the $2,220 zone.
  • 200-Day EMA at $2,758: This EMA has consistently held as a resistance level since August, and a close above it might indicate a bullish shift, potentially igniting a rally for Ether price.

On-Chain Indicators

Ethereum’s on-chain metrics reflect mixed sentiment:



  • In Profit: 22.93% of ETH addresses are currently profitable, showing demand for the token.
  • Neutral Zone: Around 60.83% of Ethereum addresses are near their break-even point, with holders uncertain about market direction.
  • Underwater Addresses: 16.24% of ETH addresses are ‘out of the money,’ meaning they might consider selling if prices drop, which could impact short-term trends.

Bullish or Bearish Outlook?


Analyst Ali Charts suggests a bullish reversal could be underway if Ether price holds above the $2,480 support level, with potential upside to $2,730. However, veteran trader Peter Brandt points to a bearish flag forming since August, signaling a possible price drop to $1,551 if this bearish trend continues.

Ethereum’s price is at a crossroads. If ETH coin breaks above the 200-day EMA and holds key support levels, a rally could be on the horizon. However, bearish patterns persist, with further downside possible if Ethereum price fails to gain momentum.

Comments

Post a Comment

Popular posts from this blog

Will ETH rally continue past $2,600 support?

Image
Ethereum has been showing some significant movement in recent weeks. Let’s break down the latest trends and  ETH price predictions  in simple points for easy understanding. 1.  Current Price Movement and Key Levels Ethereum is trading around its 50-day Exponential Moving Average (EMA) at  $2,601 . On September 19, ETH broke above a descending trendline, leading to an  11% rally . If the  50-day EMA  holds support, ETH could continue its rally and retest the  August 24 high of $2,820 . However, if the price falls below  $2,601 , it may drop further to  $2,461  and potentially retest the  September 6 low of $2,152 . 2.  RSI Signals: What Does It Say? The  Relative Strength Index (RSI) , currently near  55 , indicates weak bullish momentum. For the rally to gain traction, the RSI needs to rise above  60 , signaling stronger buying power from investors. If RSI remains below 55, the market could continue to see limited upward movement. 3.  Ethereum Holders’ Profitability: A Positive Sign Th
Read more

Can Ethereum reach $2,820 this week?

Image
Ethereum (ETH) has seen a significant rise, gaining over 3% in the past 24 hours. The price jump brings ETH to $2,493, after an intraday low of $2,411.11 and a high of $2,511.43. This surge has occurred despite weekly outflows of $30.69 million from Ethereum ETFs. As of today, Ethereum’s market cap is sitting at $300.34 billion. Meanwhile, whale activity over the weekend has sparked contrasting speculations among investors. Whale Alert data shows large ETH dumps to exchanges, creating uncertainty in the market. Before diving into the Ethereum price forecast, check out  Solana price predictions  to discover what's next for this popular altcoin. Ethereum Retests Critical Resistance Ethereum is retesting a crucial daily resistance level around $2,461. This level is important for several reasons: It lines up with the 50% price retracement level at $2,487. It coincides with the 50-day Exponential Moving Average (EMA) around $2,557. These technical factors combine to create a key resista
Read more

Is Pepe set for a massive breakout?

Image
In less than 24 hours, something big is expected to shake the entire cryptocurrency market, and Pepecoin  could be at the center of this storm. We’re going to break down the key factors driving this potential shift, from interest rate cuts to major players like Bitcoin and Binance. Let’s dive in. 1. FOMC Meeting: The Calm Before the Storm The crypto market seems quiet right now, but it's likely the calm before the storm. The Federal Open Market Committee (FOMC) is about to announce a key decision on interest rates, and this could rock the market. This will be the first possible rate cut since March 2022. Predictions are all over the place. Some think it could be a 25 or 50 basis point cut, while others speculate no change at all. Historically, lower rates drive up asset prices, including Bitcoin, which could mean a rally in altcoins like Pepe. 2. Impact on Pepe and Bitcoin The interest rate decision will have a ripple effect on the broader market, especially on Bitcoin, which tend
Read more