Ethereum Price Analysis: Will $3000 Breakout Stall as Foundation Dumps 35k ETH?

Quick Summary:

The renewed buying pressure can be attributed to Fed Chair Jerome Powell’s confidence towards colling inflation and potential interest cuts in the coming months.

Ethereum price analysis shows a 24-hour gain of 4.5% to hit the $2800 resistance amid market recovery.

According to the intothebook data, the $2800 resistance is backed by 1.08 Million ETH coins held by 1.13 Million Addresses.

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Article Details

Author / Journalist: Sahil Mahadik

Category: Crypto

Markets: India

Topics: ETH Price Analysis Ethereum Price Analysis

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-24 @ 14:11:19 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 361 words

Reading Time: 3 minutes read

Sentences: 39 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22240397

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About CoinGape

Main Topics: Crypto

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