CandleFocus Ethereum (ETH) Price Rally to $2,600 Comes with Unsettling Risks
2024-10-14
Author: Content Editor
Ethereum's price has reached $2,500 for the first time since October 1, but on-chain metrics suggest that the upward trend may not be sustainable. While the cryptocurrency's trading volume has increased, data shows that investors have been selling their Ethereum holdings. Additionally, Ethereum's Network Value to Transaction ratio has been rising, indicating that the price may be overvalued. The Average True Range suggests that the price could drop to $2,345 if buying pressure decreases. However, if bulls take control, the price could rally higher to $2,983.
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