Ethereum Price Eyes Bitcoin’s Lead: Can It Climb to a New Weekly High?

Sep 27, 2024 04:00 am Cryptocurrency 23

Ethereum price is eyeing a fresh increase like Bitcoin. ETH must surpass $2,665 to continue higher and trade to a new high in the near term.

Ethereum is aiming for a fresh increase above the $2,665 level.

The price is trading above $2,620 and the 100-hourly Simple Moving Average.

There was a break above a connecting bearish trend line with resistance at $2,625 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must stay above the $2,600 support to start a fresh increase in the near term.

Ethereum Price Eyes More Upsides

Ethereum price found support near the $2,550 level and started a fresh increase like Bitcoin. ETH was able to clear the $2,600 resistance level, but upsides were less compared to BTC.

The price climbed above the 50% Fib retracement level of the downward move from the $2,700 swing high to the $2,554 low. Besides, there was a break above ..

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