CandleFocus Ethereum Price Prediction: Can ETH Price Slingshot To $3k With This?
2024-09-17
Author: Content Editor
The crypto market has been bearish in the first half of September, but the price of Bitcoin stabilizing at around $58,000 suggests a cool-off period. The Ethereum price is hovering around $2.3k and hints at a potential bullish reversal, with expectations to retest its high of $3k. The increase in Ethereum staking volume indicates more users and inflow of digital assets. However, Ethereum has faced strong selling pressure at its resistance level of $2,500. It has recorded a drop in price over the past week and month, indicating a long-term bearish trend. The MACD and SMA indicators suggest weak buying pressure and a weak outlook for Ethereum. If the market turns bullish, Ethereum could retest $2.4k and potentially reach $2,500, while a bearish trend could push it to test lows of $2,200 or $2,100.
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