Ethereum

bullish

WazirX

BlackRock

<p>The post <a href="https://coinpedia.org/news/is-ethereum-eth-price-poised-for-a-major-rebound-can-it-hit-3k/">Is Ethereum (ETH) Price Poised for a Major Rebound? Can It Hit $3k?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ethereum (ETH) is making a bold play to reclaim its bullish territory. The second-largest cryptocurrency has surged over 4% in the past 24 hours, trading above the $2,740 mark. This momentum comes as the market watches closely to see if ETH can successfully bridge the CME gap between $2,737 and $3,030. With a huge daily trading volume of around $13 billion, Ethereum’s every move is being closely watched. </p> 
<p>What’s coming next? </p> 
<h2 class="wp-block-heading" id="h-key-levels-to-watch">Key Levels to Watch </h2> 
<p>Ethereum is close to regaining the weekly 200 Moving Average (MA) as a support level, following last week’s market downturn. However, the altcoin faces strong resistance around $2,817, which will require buyers to outweigh sellers to maintain its upward momentum.</p> 
<p><strong>Understanding the Market Sentiment </strong></p> 
<p>At the time of writing, Ethereum’s fear and greed index is at 36 percent, indicating fear in the market. The recent crypto crash, worsened by the $230 million WazirX hack, has led to mixed reactions. Some investors see the downturn as a temporary setback that will eventually lead to a rebound, while others are more pessimistic.</p> 
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   <p lang="en" dir="ltr">Jump Trading started selling <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> again just now!<br><br>They claimed 17,049 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($46.44M) from <a href="https://twitter.com/hashtag/Lido?src=hash&amp;ref_src=twsrc%5Etfw">#Lido</a> and transferred it out for sale.<br><br>Jump Trading currently has 21,394 <a href="https://twitter.com/search?q=%24wstETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$wstETH</a>($68.58M) left.<a href="https://t.co/Cx6nYYRtKw">https://t.co/Cx6nYYRtKw</a> <a href="https://t.co/ZNnY6EmeMF">pic.twitter.com/ZNnY6EmeMF</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1823633235466969440?ref_src=twsrc%5Etfw">August 14, 2024</a>
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<p>On-chain data from Lookonchain shows that Jump Trading has started to offload its remaining assets after a large sell-off last week. Today, Jump Trading transferred about 17,000 Ether, worth over $46 million, from Lido to exchanges for sale. In contrast, BlackRock has continued to acquire Ether through its <a href="https://m.sosovalue.com/assets/etf/us-eth-spot">spot Ether ETF</a>, ETHA, buying over $49 million worth of ETH on Tuesday.</p> 
<h2 class="wp-block-heading" id="h-ethereum-technical-analysis">Ethereum Technical Analysis </h2> 
<p>Technically, Ethereum’s price against the US dollar might form a bullish ascending triangle in lower time frames.</p> 
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   <p lang="en" dir="ltr">going close to the goal<a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> <a href="https://t.co/1niEbdryrm">https://t.co/1niEbdryrm</a> <a href="https://t.co/Bby9jM0Ow0">pic.twitter.com/Bby9jM0Ow0</a></p>— EliZ (@eliz883) <a href="https://twitter.com/eliz883/status/1823673997189369940?ref_src=twsrc%5Etfw">August 14, 2024</a>
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<p>However, it faces significant resistance below $3,000 amid the bearish sentiment expected for August and September. Despite this, Ethereum’s price has risen after bouncing off the support level of around $2,125 last week.</p> 
<p><strong>Ethereum’s future hangs in the balance. Are you bullish or bearish on the top altcoin? Share your reasons why.</strong></p> 
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Is Ethereum (ETH) Price Poised for a Major Rebound? Can It Hit $3k?

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