Ethereum

Convergence

Divergence

The post <a href="https://coinpedia.org/price-analysis/ethereum-price-records-new-high-will-eth-price-hit-2500-this-week/">Ethereum Price Records New High! Will ETH Price Hit $2,500 This Week?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The cryptocurrency market continues to display significant price volatility as major coins record constant fluctuations. Further, the Ethereum price has successfully recorded a new yearly high by breaching the $2,400 mark during the early trading hours today. 
The <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/">ETH price</a> traded in a range between $1,995 and $2,069 for over a week, following which the market gained momentum, and the price broke out of the range. The leader of the altcoins successfully breached its resistance level and jumped over 11%, after which the price faced rejection at $2,300. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/pbwRWv4ChfxE8XHAkbR-yO0tHPbZY0Y04gs3etYymFOi4XhOMtU2ELMwTzny_DPLORb9rUHhcdLIazoRH3-7vth9UILBP8tV86R39aFlTMYeGhYVR6MeJ4HRLiZhb_yy0Pd2CUKrHMFuBvnmCQZzfzk" alt="Ethereum Price Analysis">
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 TradingView: ETH/USDT
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The ETH coin traded sideways for a while, following which the price regained momentum and recorded a gain of approximately 10%, resulting in the price recording a new yearly high. 
However, the rally was short-lived as the bulls faced rejection at $2,400.After trading sideways for a while, the market lost momentum and the price experienced a significant correction in value. The ETH coin price then traded in a consolidated range between $2,200 and $2,300 for over two weeks. 
Recently, the price successfully regained momentum and jumped over 10%, indicating a rising bullish influence in the crypto space. 
<h2 class="wp-block-heading" id="h-will-the-ethereum-price-go-up">Will The Ethereum Price Go Up?</h2> 
The Moving Average Convergence Divergence (MACD) displays a jump in the histogram, indicating an increased buying-over-selling pressure in the market. Moreover, the averages show a sharp rise, highlighting a bullpower in the market. 
If the bulls hold the price above the support level of $2,400, the bulls will prepare to test its resistance level of $2,450 this week. Maintaining the price at that level will set the stage for the Ethereum price to attempt to test its upper resistance level of $2,500 over the weekend. 
Conversely, if a trend reversal occurs, the price will lose momentum and fall to test its support level of $2,300. Further, if the bears continue to dominate the market, it will result in the coin losing all its gains and plunging to test its lower support level of $2,200.

Ethereum Price Records New High! Will ETH Price Hit $2,500 This Week?

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