Ethereum

Bitcoin

<ul>
 <li>Ethereum (ETH) bounced back to $1,850 resistance on October 26.</li>
 <li>Alameda Research and FTX swiftly moved over $59M in cryptocurrencies, including ETH, for undisclosed reasons.</li>
 <li>Ethereum is currently trading at $1,793, marking a 0.89% decline over the past 24 hours.</li>
</ul>
Ethereum (ETH) continues to tread a <a href="https://thenewscrypto.com/ethereum-price-continues-bullish-momentum/" target="_blank" rel="noopener noreferrer nofollow">delicate path</a>, facing resistance as it attempts to break free from a descending trendline that’s been in place since April, when it reached its yearly high of $2,141. After dipping to a low of $1,536 on October 13, ETH made a rebound, surging to $1,851 by October 26, mirroring the movements of the leading cryptocurrency, Bitcoin.
In contrast to Ethereum’s struggle, Bitcoin (BTC) marked a significant rally on Wednesday, reaching a new 18-month high with a market share of $35,116. However, one disturbing news emerged in the crypto market. According to data from crypto data tracker Lookonchain, bankrupt crypto firms Alameda Research and FTX swiftly shifted over $59 million worth of assets, including Ethereum, leaving the reasons behind this transfer unclear.
<a href="https://thenewscrypto.com/ftx-reportedly-eyed-google-and-blackrock-investments-before-collapse/" target="_blank" rel="noopener noreferrer nofollow">FTX</a> itself faced allegations of criminal mismanagement, leading to its bankruptcy in November, with nearly $9 billion in client funds unaccounted for. In response, FTX is now exploring a plan to repay its creditors by liquidating its assets, which include Ethereum, Solana, MATIC, and more.
<h3 class="wp-block-heading" id="h-ethereum-eth-next-target">Ethereum (ETH) Next Target</h3>
As for Ethereum’s <a href="https://thenewscrypto.com/ethereum-eth-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">price analysis</a> in the last 24 hours, ETH embarked on a renewed attempt to breach the $1,820 level. It successfully cleared the $1,850 resistance but faced limitations in its upward trajectory. The price reached as high as $1,851 before undergoing a correction, the pattern observed in Bitcoin.
During this correction, ETH slipped below the $1,810 and $1,800 levels. Notably, a key bullish trendline was broken, with support near $1,810. Nevertheless, Ethereum found support at the $1,780 level, prompting a resurgence in buying interest.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="556" src="https://thenewscrypto.com/wp-content/uploads/2023/10/ETH-1024x556.png" alt="" class="wp-image-84638" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/ETH-1024x556.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/10/ETH-300x163.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/ETH-768x417.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/10/ETH-1536x834.png 1536w, https://thenewscrypto.com/wp-content/uploads/2023/10/ETH-150x81.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/10/ETH.png 1542w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Ethereum (ETH) Price Chart (Source: TradingView)
 </figcaption>
 </figure>
</div>
At the time of this report, ETH is trading at $1,793, backed by a daily trading volume of $10.7 billion, a 15% surge within the last 24 hours.
For Ethereum, the path ahead is two-fold. If ETH clears the $1,850 resistance, it may set its sights on $1,870 and even test $1,900. Beyond that lies the pivotal resistance at $1,950, it could potentially accelerate towards $2,000. However, if Ethereum <a href="https://thenewscrypto.com/ethereum-whales-withdraw-record-amounts-from-exchanges-as-price-pops/" target="_blank" rel="noopener noreferrer nofollow">fails to overcome</a> the $1,815 resistance, it could face another descent. The initial support on the downside rests near the $1,775 level.

Ethereum Price Correction Alert. A Pullback or Downtrend?

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