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.
Attention Investors! Upbit and Bithumb Are Preparing to List This Altcoin That Caused Prices to Fly!
‘All Eyes on BTC’ – Trader Sees Bitcoin Mirroring October 2023 Run-Up After 200 Days of Accumulation