Ethereum

Shift

bullish

Bitcoin

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-prices-rise-as-market-dynamics-shift/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Prices Rise as Market Dynamics Shift</a><br></p>
<p style="text-align: justify">Ethereum (ETH) price today trades at the $2,700 level, marking a 2.82% increase. Over the last ten days, ETH has experienced a 10% rise, effectively ending its underwhelming performance since August. This upward trend has led to speculation that ETH could reach $3,000 in October.</p>
<h2 id="reasons-behind-ethereum-s-increase">Reasons Behind Ethereum’s Increase</h2>
<p style="text-align: justify">Three main factors contribute to Ethereum’s current trading at $2,700.</p>
<ul>
 <li style="text-align: justify">Bitcoin recently exceeding the critical resistance level of $65,000 has resulted in double-digit increases for ETH and other major <a href="https://en.coin-turk.com/flash-warning-for-those-altcoins-all-could-be-in-danger-after-curve-finance-crv/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoins</a>.</li>
 <li style="text-align: justify">The conclusion of a declining third quarter has supported Ethereum’s rise.</li>
 <li style="text-align: justify">Typically volatile price movements toward the end of the month have led to a 10% increase in ETH over the last ten days.</li>
</ul>
<h2 id="short-term-corrections-anticipated">Short-Term Corrections Anticipated</h2>
<p style="text-align: justify">The 30-day MVRV data shared by Santiment hovers around 6.5%. Previous adjustments in ETH prices were observed in the 6-10% range, indicating a potential price correction. Furthermore, Bitcoin generally shows weak performance over the weekends, and during the drafting of this article, it lost the $66,000 mark, prompting investors to exercise caution.</p>
<p style="text-align: justify">The daily price chart for Ethereum indicates a range between $2,309 and $2,820. Investors should monitor the peak level of $2,702 from September 23, as failure of buyers to maintain momentum at this level could lead to a price correction. In such a scenario, Ethereum may retreat to the demand zone between $2,252 and $2,440.</p>
<p style="text-align: justify">Considering that October historically brings bullish trends for <a href="https://en.coin-turk.com/renowned-crypto-strategist-predicts-future-for-ethereum-based-altcoin-binance-coin-and-chainlink/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> markets, investors might seize these dips as buying opportunities before testing the upper resistance level of $2,820 again.</p>
<p style="text-align: justify">Overall, Ethereum’s outlook appears more positive compared to a month ago. Technical analyses support the potential for ETH to surpass $3,000, though short-term correction risks still remain.</p>
<p style="text-align: justify">Should Ethereum reach these price targets, investors could also focus on subsequent critical levels around $3,352 and $3,497.</p>
<p>The post <a href="https://en.coin-turk.com/ethereum-prices-rise-as-market-dynamics-shift/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Prices Rise as Market Dynamics Shift</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Ethereum Prices Rise as Market Dynamics Shift

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