CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
CryptoIntelligence 2024-10-27 18:25:00

Ether Poised to Surge to $6,000 Despite Weak Performance

Ethereum’s native token, Ether (ETH), is poised to experience its first October loss since 2018, dropping 5.4% to $2,475 as of Oct. 27. This decline is largely due to mounting competition from newer smart contract platforms like Solana (SOL) and lukewarm market reactions to Ethereum-based spot ETFs. Indicators Suggest Ether May Rebound Toward $6,000 Despite recent losses, several indicators point to a potential recovery for Ether. The token currently holds above a crucial support level around $2,400, which aligns with the lower trendline of ETH’s multimonth ascending channel. Historically, this pattern has triggered sharp price rebounds, including a 160% surge

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.