Ethereum

Bitcoin

Momentum

<ul>
 <li>Ethereum (ETH) price displays bullish momentum, holding above the crucial support level of $3,730.</li>
 <li>ETH has experienced significant gains across various timeframes, with a 1.47% increase in the past day.</li>
 <li>Technical indicators, such as the SMA and RSI, support the bullish outlook for Ethereum.</li>
</ul>
<p>As the cryptocurrency market continues to exhibit a positive price action, with top altcoins adding significant value to their respective portfolios, the market leader, <a href="https://thenewscrypto.com/?s=bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>, has managed to maintain its price above the crucial $71,000 mark.</p>
<p>In a similar vein, <a href="https://thenewscrypto.com/?s=ethereum" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>, the leader of altcoins, has displayed a comparable price movement, recording a trading volume of $14.28 billion and experiencing an approximate 2% increase in valuation within the past 24 hours.</p>
<h2 class="wp-block-heading" id="h-eth-price-shows-signs-of-bullish-sentiment"><strong>ETH Price Shows Signs of Bullish Sentiment</strong></h2>
<p>Ethereum initially exhibited a weak price action, trading within a confined range between $3,020 and $3,400 for a brief period. However, as market volatility intensified, the bulls regained momentum, resulting in a bullish breakout for the altcoin leader.</p>
<p>Since this breakout, the Ethereum price has consistently held above its crucial support level of $3,730, indicating a positive influence on the crypto token within the market.</p>
<p>Over the past day, the ETH coin price has experienced a 1.47% increase, while gaining 2.18% over the course of the past week. Furthermore, Ethereum has witnessed an impressive 21.27% jump within the past 30 days and boasts a Year-to-Date (YTD) return of 68.58%, suggesting a favorable outlook for the altcoin in the near future.</p>
<h2 class="wp-block-heading" id="h-will-ethereum-s-price-continue-to-rise"><strong>Will Ethereum’s Price Continue to Rise?</strong></h2>
<p>If the bulls maintain their momentum, the Ethereum price is expected to test its resistance level of $4,094. Sustaining the price at this level will pave the way for the ETH coin price to challenge its upper resistance level of $4,500 in the coming weeks.</p>
<p>On the other hand, if the bears manage to overpower the bulls, the Ethereum token may fall below its critical support level of $3,730. If the bulls fail to regain their footing at this point, the ETH crypto could experience a further plunge and prepare to test its lower support level of $3,400 this month.</p>

Ethereum (ETH) Price Displays Bullish Momentum as Bitcoin Holds Above $71,000

Table of Contents

TheNewsCrypto

Other articles published on Jun 7, 2024

US elections are a ‘huge variable’ for Solana ETF approval

25 Million XRP Push From Binance, Another Whale Sell-off?

CryptoUK Releases Comprehensive Guide to Navigate U.K.’s Crypto Travel Rule Compliance

MEW Price Soars 18% Amid Major Listing Announcement

Meme Coin Mom Vs. Ethereum Dad: Did Iggy Azalea Just Shade Vitalik Buterin?

Semler Scientific Acquires $17M Bitcoin & Now Holds 828 BTC

Join our free newsletter for daily crypto updates!