As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I must say that the recent surge in Ethereum (ETH) has caught my attention. With over 5% growth in just 24 hours, it’s hard not to get excited about this bull run.
Bulls are back in the game, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has increased by 5.42% over the past 24 hours.
On an hour-by-hour basis, the Ethereum price hovers close to its immediate resistance level at approximately $2,442. Should it manage to break through this barrier, there could be sufficient momentum for a potential challenge of the $2,500 region relatively quickly.
On a day-to-day basis, the upward trend for the leading altcoin continues following yesterday’s bullish finish. If bulls manage to maintain control, there could be a surge towards the $2,600 region before the month ends.
From the midterm point of view, it is too early to make any long-term predictions, as the price of ETH does not have enough energy for prolonged growth.
Ongoing sideways trading in the area of $2,300-$2,600 is the most likely scenario.
Ethereum is trading at $2,432 at press time.
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2024-09-19 19:38