Ethereum

Bitcoin

<ul>
 <li><strong>Amid the recent upsurge, the price is up 11% in the last 7 days.</strong></li>
 <li><strong>&nbsp;If the bears drive the price below $1762 level, then price will head towards $1671 level.</strong></li>
</ul>
<p>The recent rise in Ethereum’s price is consistent with the market’s optimistic mood. The rising price of <a href="https://thenewscrypto.com/bitcoin-continues-to-surge-as-uptober-comes-to-an-end-whats-next/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>, driven in part by the prospect of Bitcoin ETFs, has had a salutary effect on the broader crypto industry. As a result of the market’s upbeat outlook, <a href="https://thenewscrypto.com/ethereum-price-correction-alert-a-pullback-or-downtrend/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>, which is already a formidable competitor, has strengthened even more.</p>
<p>During the current crypto market surge, Ethereum gained 21% but still couldn’t break the $2,000 barrier. Many investors attributed the surge in value to the price of Bitcoin. The value of the cryptocurrency has moved between $1,760 and $1,850 during the course of the previous four days.&nbsp;</p>
<h3 class="wp-block-heading" id="breakout-likely">Breakout Likely</h3>
<p>Assuming ETH recovers above the breakthrough mark of $1,853, the uptrend will continue. There will be further selling pressure on Ether if the price drops below the breakthrough mark of $1,746. The price however, is consolidating eyeing for a breakout in either direction.</p>
<p>At the time of writing, ETH is trading at $1789, up 0.59% in the last 24 hours as per data from CoinMarketCap. However, the trading volume is down 16.90%. Amid the recent upsurge, the ETH price is up 11% in the last 7 days.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/10/ETH_7D_graph_coinmarketcap-1-1.png" alt="" class="wp-image-84732" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/ETH_7D_graph_coinmarketcap-1-1.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/10/ETH_7D_graph_coinmarketcap-1-1-300x181.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/ETH_7D_graph_coinmarketcap-1-1-150x90.png 150w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price manages to go past $1852 resistance level, then it is highly likely to head towards $2000 resistance level. If bulls could push the price above this level then the price will likely test the $2123 level.</p>
<p>However, if the bears drive the price below $1762 level, then price will head towards $1671 support level. Further decline will likely see price testing $1611 mark.</p>

Ethereum’s Price Trading in Confined Range Eyeing Breakout

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