tl;dr
The Ethereum Foundation sold 1,050 ETH in September, totaling approximately $2.53 million, with prices ranging from $2,301 to $2,645. Despite this, Ethereum's price has held steady at $2,593 support, with potential resistance at $2,700. The recent bounce from the support level has generated bullish ...
Ethereum Foundation strategically sold 1,050 ETH in September at prices between $2,301 and $2,645, raising questions about market impact.
Ethereum's price holds firm at $2,593 support, with potential resistance at $2,700, amid increased trading activity and volatility.
Bullish momentum builds for Ethereum as MACD rises and RSI remains neutral, with support at $2,593 and potential resistance at $2,675 and $2,700.
The Ethereum Foundation sold 1,050 ETH in September, totaling approximately $2.53 million, with prices ranging from $2,301 to $2,645. Despite this, Ethereum's price has held steady at $2,593 support, with potential resistance at $2,700. The recent bounce from the support level has generated bullish momentum, with the price settling at $2,651.16. Trading volume has surged by 59.85%, signaling increased market interest and potential volatility. The Relative Strength Index (RSI) is in neutral territory at 60.49, indicating room for further price movement, while the Moving Average Convergence Divergence (MACD) suggests growing bullish momentum. Ethereum faces immediate resistance at $2,675, with a potential target of $2,700, which, if surpassed, could lead to further gains. Support levels at $2,593 and $2,550 are crucial in Ethereum's price trend.
Ethereum Foundation’s 1,050 ETH sale in September signals strategic market timing.
ETH price holds firm at $2,593 support, with potential resistance at $2,700 ahead.
Bullish signals emerge as MACD rises and RSI remains neutral for further momentum.
The Ethereum Foundation has once again sold a significant amount of ETH, this time 100 ETH at $2,645, according to PANews data. This brings the total Ethereum (ETH) sold by the Foundation to 1,050 ETH in September alone, valued at roughly $2.53 million. These sales took place at prices between $2,301 and $2,645, suggesting a strategic selling approach during Ethereum’s price swings. These transactions raise questions about their potential impact on the market, especially as ETH shows signs of recovery.
ETHEREUM PRICE TREND AND MARKET ACTIVITY
As at presstime, Ethereum’s current price stands at $2,651.16 , reflecting a 2.23% increase over the past 24 hours. Importantly, this upward movement comes after a period of volatility where ETH briefly tested a support level near $2,593 before bouncing back. Daily trading volume has jumped by 59.85%, reaching $17.35 billion. This significant rise in trading activity indicates increased market interest and the possibility of more volatility as investors react to the Foundation’s selling.
BULLISH MOMENTUM BUILDS, BUT CHALLENGES REMAIN
The recent bounce from the $2,593 support level has created bullish momentum, pushing ETH towards a local high of $2,675. However, the price slightly retreated and settled around $2,651. Even with this small pullback, the $2,593 support level has held firm and may continue to be a crucial price zone in the near term. Several support and resistance levels are emerging as important markers in Ethereum’s price trend. The support at $2,593 proved its significance when the price bounced from this level. In addition, another key support level to watch is $2,550, which could provide support if $2,593 doesn’t hold.
Looking ahead, ETH faces immediate resistance at $2,675, where the price was briefly rejected. If it breaks through this level, the next target would be the psychological resistance at $2,700. Overcoming this point could lead to further gains, potentially driving ETH higher in the coming days.
TECHNICAL INDICATORS POINT TO BULLISH TREND
Ethereum’s 1-day Relative Strength Index (RSI) is currently at 60.49, placing it in neutral territory. This reading suggests that the market is neither overbought nor oversold, leaving room for further price movement. Additionally, the Moving Average Convergence Divergence (MACD) is trading above the signal line, indicating growing bullish momentum.
More about Rush Street Interactive Inc
Rush Street Interactive Inc
Rush Street Interactive, Inc. is an online casino and sports betting company in the United States and Latin America. The company is headquartered in Chicago, Illinois.
Industry: TRADE & SERVICES
Sector: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION
Market Cap: 2336304000
Dividend Yield: None
Beta (5Y Monthly): -0.09
PE Ratio (TTM): 10.78
EPS (TTM): -0.0084
Volume: 801545000
Market Cap (intraday): 13.03
Forward Dividend & Yield: 0 (0.00%)
52-Week Change: 0.888
More about
```html
After a thorough analysis of the market charts and technical indicators, it is evident that the stock is currently testing a crucial support level at $150. If this level holds, we may see a potential rebound towards the resistance at $170. However, a breakdown below $150 could signal further downside towards $130.
The Relative Strength Index (RSI) is currently indicating oversold conditions, suggesting a possible short-term reversal. Additionally, the moving averages are converging, indicating a potential trend reversal in the near term.
It's important to note that the stock has formed a classic head and shoulders pattern, typically signaling a trend reversal. This adds weight to the potential for a bullish breakout if the support holds.
Considering these factors, investors should closely monitor the support and resistance levels for confirmation of the next directional move. It's crucial to remain cautious as market conditions can change rapidly, and past performance is not indicative of future results.
```