Ethereum

Bitcoin

Convergence

Divergence

<ul class="wp-block-list"> 
 <li>Ethereum price showed a modest increase following its previous gains over the last few days.&nbsp;</li> 
 <li>The altcoin’s daily trading volume surged by 20.38% as per CMC data.</li> 
</ul> 
In the theatre of Finance, cryptocurrencies, Bitcoin and Ethereum, are emerging as top performers holding audience attention unfettered. The last 24 hours, saw Bitcoin climb to its crucial resistance level – $65K. Following this, Ethereum broke its $2.5K resistance yet again this week. The altcoin, despite its recent price slump, is expected to recover in the coming months.&nbsp; 
Notably, in the last 24 hours, Ethereum’s price incurred a modest increase of 0.62%. The altcoin has exhibited <a href="https://www.tradingview.com/x/luobtG7i/" target="_blank" rel="noreferrer noopener nofollow">increased volatility</a> in the past few days, as bulls and bears attempted to stage combat.&nbsp;&nbsp; 
However, the recent price actions exhibit a positive momentum as ETH prices managed to climb beyond $2,650 during the day. At the time of writing, Ethereum was trading at $2,645 as per CMC <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noreferrer noopener nofollow">data</a>.&nbsp; 
Additionally, ETH price also inched closer to $2.5K momentarily in the last 24 hours, but the token resisted the bearish dominance. If Ethereum sustains its positive momentum, it can be expected to face resistance at $2,700. On inferring its daily price chart, Ethereum shows signs of overcoming its recent price slump at the $2,300 to $2,500 range.&nbsp; 
Meanwhile, the <a href="https://thenewscrypto.com/us-spot-ethereum-etfs-experience-longest-withdrawal-streak/" target="_blank" rel="noreferrer noopener">US spot ETH ETFs</a> recorded modest outflows on September 27 breaking the two-day inflow streak. <a href="https://thenewscrypto.com/grayscale-unveils-avalanche-trust-driving-10-surge-in-avax-price/" target="_blank" rel="noreferrer noopener">Grayscale’s</a> spot ETF recorded the highest outflow of $36.02 million overshadowing inflows recorded by other ETFs.&nbsp; 
<h3 class="wp-block-heading" id="h-what-to-expect-for-ethereum-s-price-in-the-coming-months">What to Expect for Ethereum’s Price in the Coming Months?</h3> 
Ethereum price, in the last 7 days, shows a price performance of 3.93% increase. After the aforementioned price slump, the altcoin has begun to depict bullish candles. Moreover, the token’s monthly price increase stands at 4.86%. This results majorly from the bullish turn that ETH has taken in the past few days.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcHaHwGXYYeV8LDm_m0nzvknvhAh4VJCrLo8SOF_h4lRHq42JqHp5tTxCRKYCjFEZWUvVemwc7ZyR_fT3u6KAUAJwDFb1BCVcS4KuiUJquYNOG3FqzXAg8J-Gf_5VISKeUacZHLBsCfdQz3wAT6JKKM6eNv?key=3G0Q7S4R9YADtFGt-UcdkQ" alt="">
 </figure>
</div> 
On inferring Ethereum’s technical indicators, the Moving Average Convergence Divergence (MACD), the signal line stands above the MACD line as per TradingView <a href="https://www.tradingview.com/symbols/ETHUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">data</a>. This indicates a positive trend in price movements. Additionally, the token’s RSI stands at 58.81 indicating the token’s inching towards buying sentiment among investors.&nbsp; 
Moreover, if the altcoin manages to break its resistance at $2,700 it can be expected to rally to $3K. However, if it fails to sustain and transition the recovery into a bull run it might fall to a support level of $2,294.&nbsp;

Will Ethereum (ETH) Price Current Positive Momentum Hit $3K?

Table of Contents

TheNewsCrypto

Other articles published on Sep 27, 2024

Floki, BNB Chain To Launch Meme Coin Launchpad GraFun

Coinpedia Fintech News

The Collapse of Cryptocurrency Exchanges: Main Reasons and Lessons for Investors

US seizes crypto domains connected to Russian money laundering scheme

Moo Deng Coin Soars Following Hippo’s Fame

Crypto: Visa And Mastercard Are Hindering Innovation By Betting Millions!

Join our free newsletter for daily crypto updates!