Ethereum: Analyst Sets $2,820 As ETH’s Next Key Level to Watch, Here’s Why

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Additionally, it coincides with the Daily 200 Exponential Moving Average (EMA) around that area, which makes it "an important level to watch.” A breakout above this mark could further propel ETH’s price toward the $3,000 resistance level.

Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), noted that Ethereum’s chart is "looking a lot like a 2023 redux.” Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets Per the Chart, the cryptocurrency’s current market structure resembles its 2023 movements very closely.

Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Ethereum Consolidates Above $2,600 Ethereum recorded a 13% price jump in the last seven days after the US Federal Reserve (Fed) announced its decision to cut the interest rate by 50 basis points (bps).

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Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets: United Kingdom

Topics: Fed rate cuts Ether Crypto market ETHUSDT ETH Bitcoin Btc Crypto investors Crypto trader Cryptocurrency Market News Ethereum Bullish Crypto Market Recovery Ethereum Crypto analyst

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-27 @ 10:00:54 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 500 words

Reading Time: 3 minutes read

Sentences: 73 lines

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Copyright Owner: © NewsBTC

News ID: 22750708

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