CandleFocus Ethereum’s Path to a 6-Week High Hinges on These Key Holders
2024-10-08
Author: Content Editor
The recent decline in Ethereum's price may not signal a bearish trend, as the cryptocurrency is showing strength above its bear market support floor. Long-term holders are accumulating Ethereum, indicating confidence in its future prospects. Technical indicators, such as the Relative Strength Index (RSI), suggest that Ethereum is building momentum for further gains. If the broader cryptocurrency market remains stable, Ethereum could target higher price levels. Currently trading at $2,431, Ethereum could potentially surge towards $2,591 and beyond if bullish signals materialize. However, failure to surpass $2,591 could lead to a period of consolidation.
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