Bullish Signals Emerge For Ethereum: Price Rises Above Downward Trendline And Key MA Levels

Quick Summary:

Signs Of An Imminent Breakout To The Upside?   In a recent social media post on X (formerly Twitter), Market expert Jesse Olson has highlighted several bullish indicators on Ethereum’s 8-hour chart, suggesting a potential continuation of this recovery.

However, he cautions that trading within the $2,100 to $2,850 range may remain volatile.  Daan contends in a social media post, that a consolidation above $2,850 would mark a significant bullish development for Ethereum, confirming a breakout from the current downtrend and setting sights on the key $3,000 level, which has not been reached since early August.

Related Reading: Bitcoin Shakeout Ahead: Analysts Predict Final Dip Before Bull Run Resumes In addition, the expert highlights that the Ethereum price is currently reclaiming the 200-week moving average (MA), along with recent trends in market indicators.

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Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: United Kingdom

Topics: Ethusd Crypto news ETH Ethereum price ETHUSDT Ethereum Price analysis Ethereum Ethereum Price Forecast Ethereum Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-11 @ 10:00:44 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 426 words

Reading Time: 3 minutes read

Sentences: 70 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 22457982

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Main Topics: Crypto

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