Ethereum

<ul class="wp-block-list">
 <li><strong>Ethereum slips into the $2.4K mark, losing over 2.50% over the past 24 hours.</strong></li>
 <li><strong>The market witnessed an ETH liquidation of $50.51 million.</strong></li>
</ul>
<p>Ethereum’s price oscillation over the past few days has left traders anxious due to eminent volatility. Several crypto analysts anticipate that the ETH price might recover with the influx of October.&nbsp;</p>
<p>The ETH price is at a critical juncture as it hovers near strong resistance and support levels. The largest altcoin witnessed a price drop of over 2.50% in the past 24 hours. This decline is reflected in the price, which is currently trading at $2,426, as per CMC <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">data</a>. The daily price chart shows the asset’s struggle to maintain the price at the $2.5K mark.&nbsp;</p>
<p>Moreover, Ethereum recorded the lowest price at $2,405 and the highest at $2,520. Amid this, the market <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">witnessed</a> an ETH liquidation of $50.51 million as per CoinGlass. Meanwhile, the daily trading volume of ETH has increased by over 43.90% to $15.89 billion.&nbsp;</p>
<p>On the other hand, the on-chain <a href="https://x.com/spotonchain/status/1843461730015555955" target="_blank" rel="noopener noreferrer nofollow">data</a> observed that an Ethereum whale who received 150K ETH during the ICO has deposited another 5K ETH, worth $12.2 million, to Kraken. Over the past 15 days, Furthermore, the whale has sent a total of 45K ETH, worth $113.3 million. The whale holds a total of 94,450 <a href="https://thenewscrypto.com/mysterious-7-siblings-make-waves-with-66m-ethereum-buy/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>, valued at around $230 million in the wallet.</p>
<h3 class="wp-block-heading" id="h-is-a-rebound-possible-for-eth">Is a Rebound Possible for ETH?</h3>
<p>On the monthly chart, ETH’s price has spiked over 6.40%; a high has formed at $2,685. However, in the past seven days, a series of lows were formed, and the price has plunged 7.70%. The asset has tumbled from $2.6K to $2.3K. An upside price correction was expected amid the volatility, but the bear hold has strengthened till date.&nbsp;</p>
<p>The current bearish pace could trigger Ethereum to collapse to the $2.2K level. If the downside momentum persists, further pullback can be expected below the $2K mark. On the other hand, a rebound above the current price could bring a retest, and ETH might jump toward $2,628.&nbsp;</p>
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfTq7epp41Z9emE2uyAIJRGTkV-o7X_dJh_wYBCtLbMNCvkRKRma-sr0FoVUL1D2aZFJkPJXVIdr_lj7Chi4Li0-5qO8ZBYWm2hqn-aOrkSaUs96Bq1iT2dedBdaYImnIGvf-c9ilK1QyZOtuwkXoAdwg?key=DHdqhWP4Ugqyda32nzI-6g" alt="">
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<p>While zooming in at the technical chart, the daily Relative Strength Index (RSI) is positioned at 48.16, in the neutral zone. Besides, both the short-term 50 and long-term 200 moving averages of ETH are noted at $2,459, suggesting that the current price momentum for ETH is bearish.</p>

Ethereum (ETH) Struggles to Break $2.5K Amid Bearish Dominance

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