CandleFocus Ether Rebounds Off Key Support Signals Long Term Bullishness
2024-09-19
Author: Content Editor
The price of Ether has risen 2.5% in the past 24 hours and has found support at its 200-week simple moving average of $2,298. This support level has held throughout September, and if the price continues to rise above this marker, it is considered to be in an uptrend. Bitcoin is currently trading at around $62,000 and is attempting to break through key resistance levels, including the short-term holder realized price at $61,998. To continue its upward momentum, Bitcoin will need to break through the $65,000 resistance level. The upcoming release of inflation data in Japan and the Bank of Japan's interest rate decision could add volatility to the crypto markets. Bitcoin ETFs saw their first outflow since September 11, with a total outflow of $52.7 million. Overall, macroeconomic conditions in Japan and the US may impact the price movements of Bitcoin and Ethereum in the coming days.
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