CandleFocus Ethereum (ETH) Breaks Free From Consolidation and Surges Toward $3.5K Mark
2024-11-26
Author: Content Editor
The price of Ethereum (ETH) has surged above $3.4K after being in a consolidation phase for several weeks. However, there have been challenges in breaking through resistance levels. ETH is currently trading at $3,426 with a 1.16% gain in the past 24 hours. There has been a liquidation of $85.63 million worth of Ethereum and the altcoin's daily trading volume is $53.49 billion. An analysis suggests a mixed risk assessment for ETH, recommending a hold strategy. The MACD indicator shows a potential negative trend, but the CMF line indicates a positive money flow and a likelihood of an upside correction. If the upward momentum continues, ETH could reach the $3.5K mark, but a downside correction could bring the price to $3.3K. The market sentiment for ETH is currently neutral, with the RSI settled at 56.63.
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