The price of Ethereum has increased by 2.13% over the past day, reaching $2,463.82. However, trading volumes decreased by 16.84%, indicating a drop to $12.53 billion. The market cap of Ethereum now stands at $296.6 billion, contributing to the recent recovery of the broader crypto market. Despite this positive momentum, the Ethereum spot ETF has experienced a net outflow of $97,100, reflecting cautious investor sentiment. Technically, Ethereum has the potential for more upside, with resistance at $2,500 and a significant level at $2,550. The recent crossover of moving averages suggests a slight bullish momentum, but the RSI indicates a neutral zone with some lingering bearishness. Overall, Ethereum's price action shows both upside potential and cautionary signals influenced by various factors such as ETF sentiment and overall market conditions.
- Content Editor ( thenewscrypto.com )
- 2024-10-12
Are Bulls Ready to Drive Ethereum (ETH) to $2,500?