As of today, the value of Ethereum in the market is $1,670.15 USD with a trading volume of $6,830,317,236 USD over the past 24 hours. Ethereum has experienced a 2.84% increase during this time.
It currently holds the second rank on CoinMarketCap’s list with a market cap of $200,812,237,815 USD. There are currently 120,236,031 ETH coins in circulation, and the maximum supply is not available.
The price of Ethereum is trying to make a new upward movement above $1,650 when paired with the US Dollar.
- If it manages to surpass the $1,670 resistance, ETH may gain momentum. It is currently trading above $1,620 and the 100-hourly Simple Moving Average.
- On the hourly chart of ETH/USD (data feed via Kraken), there is a significant bullish trend line forming with support near $1,645.
- If the pair successfully clears the $1,670 resistance zone, it could continue to rise.
Look, I am a fan of BTC. I think it provides a ton of value (mainly be serving as a gateway drug to Ethereum). But the fact that a tiny community of zealots thinks it will be used as a currency one day does not make it one today.
— Duncan Danvers (@DDCrypto99) September 27, 2023
ETH Surges as Investors Show Confidence in Ethereum’s Future
ETH maintained a steady position above $1,580 and saw an increase in value as it surpassed the $1,620 resistance point. Despite reaching $1,667, the price saw limited gains and experienced a slight downturn. Currently,
🚀 ETH Price Surges as Valkyrie Gains Approval for ETH-BTC Futures Contracts 📈
— Crypto News (CoinGape) (@CoinGapeMedia) September 29, 2023
There is potential for the price to encounter a barrier at $1,670 and then again at the significant resistance level of $1,720. If the price manages to surpass this resistance level, it could lead to a substantial increase and possibly reach the $1,800 resistance.
The next crucial resistance to watch out for is at $1,820, and any further gains may signal a move towards $1,880.
Exploring the Limits of Dips in ETH: What You Need to Know
Should Ethereum fail to surpass the $1,670 resistance level, a downside correction may occur. The initial support on the downside is located around the $1,645 level and the trend line. If the price drops further, the next significant support is at $1,620.
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— Logan Skees (@loganskees) September 27, 2023
If this level is breached, the price may test the $1,600 support. In the event of a downside break below the $1,600 support, a bearish wave may ensue, leading to a drop towards the $1,540 level.
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