Ethereum Emerges from Month-Long Consolidation

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The cost of the second-largest virtual currency, Ethereum, is at $1.450, up 8.5% over the previous day. For over a month, the ETH market has lurked in consolidation between $1.405 and $1.240. Although it’s too soon to say whether ETH has permanently left that trading range, this is the first time the price of the coin has reached these levels since the historic ‘Merge’ on September 15.

The rebound in ETH prices is likely a result of general market conditions. For the third day in a row, the S&P 500, Nasdaq, and Dow Jones all gained 1.32%, 1.86%, and 0.86%, respectively. For the majority of the year, the cryptocurrency market and the stock market have exhibited a strong link.

Key Ethereum Levels to Watch – October 26

Ethereum reversed with the aid of a triple bottom from the $1006.50 demand level in July. Bulls pumped the price to the supply level at $2012.50.Ethereum Emerges from Month-Long Consolidation

Ethereum experienced a shift in the market in August. The Moving Average period nine dived below the Moving Averages period twenty-one after the resistance level at $2012.50 was struck.

The market has taken off from the $1260.60 support level to the bearish order block at $1600.0. The Moving Averages have crossed to support the bullish run. The market has experienced a breakout above the bearish channel. The bulls seek to attack $1767.80.

Ethereum Key Levels
Resistance Levels: $1767.8.00, $1900.00, $2012.50
Support Levels: $1260.60, $1006.50, $900.00

Total Market Capitalization: $181.6B
Ethereum Coin Market Capitalization: $181.5B
Ethereum Volume: 33.2B
Market Rank: #2

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.