As a seasoned researcher with years of experience in the cryptocurrency market, I find myself always intrigued by the dynamic nature of this digital frontier. The weekend has started off promisingly for most coins, and Ethereum (ETH) is no exception, having gained 1.41% over the last 24 hours.
The weekend has started positively for most of the coins, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has increased by 1.41% over the last 24 hours.
Looking at the hourly chart, the value of ETH hovers close to its immediate resistance level, which stands at approximately $2,467. If the daily candle ends in this region, it might lead to a breakthrough and a potential shift towards the $2,500 area.
Over a larger time period, traders ought to zero in on the price point of approximately $2,466. If buyers successfully maintain control, the built-up momentum could potentially trigger a breakout, leading to an imminent move towards the $2,520-$2,600 range.
Looking at things from a midpoint perspective, the situation appears somewhat less optimistic. The primary altcoin’s rate, currently, lies within a broad range.
If things remain as they are by the end of the week, it’s more probable that we’ll see continued trading within the range of about $2,400 to $2,600.
Ethereum is trading at $2,462 at press time.
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2024-10-12 18:43