Ethereum

Momentum

Spot

Gains

<ul class="wp-block-list">
 <li>The ETH price failed to clear above the $2700 mark recently, and faced a brief correction.</li>
 <li>A considerable increase is possible, however it may pale in comparison to previous peaks.</li>
</ul>
The price of Ethereum (ETH) has risen by 15% in the last two weeks, thanks to positive momentum that followed post interest rate cut by the U.S Federal Reserve. A number of cryptocurrencies are making a comeback and trading in green as September comes close to an end, demonstrating that the market remains resilient. Bitcoin and Ethereum may see a significant price jump by the start of October, thanks to the positive trend and large Spot ETF inflows lately.
On the other hand, the SEC <a href="https://thenewscrypto.com/ethereum-etf-decision-postponed-as-sec-extends-deadline/" target="_blank" rel="noopener noreferrer nofollow">postponed</a> its judgment on the approval of options trading for Ethereum ETFs until November 10-11 on September 24. Moreover, the current bankruptcy procedures at Genesis Trading have coincided with a major Ethereum (ETH) liquidation. An anonymous creditor sold 12,100 ETH, worth over $31.43 million, during the last three days. Noteworthy market ripples have been caused by the execution of this sell-off, which had earlier bought 114,502 ETH valued around $358.19 million in August.
<h3 class="wp-block-heading" id="h-investors-optimistic">Investors Optimistic</h3>
However, analysts and traders have projected that Ethereum might see massive price increases due to strong weekly performance, institutional inflows, and historical October trends.
A considerable increase is possible, however it may pale in comparison to previous peaks. But it doesn’t discount the possibilities that this rebound may bring to the altcoin market as a whole and to <a href="https://thenewscrypto.com/is-ethereum-poised-to-break-through-the-2-7k-barrier/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> in particular.
At the time of writing, Ethereum (ETH) is trading at $2618, down 0.20% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 7.88%. The price failed to clear above the $2700 mark recently, and faced a brief correction. However, it found a short-term support at $2563 level today.
On the daily time frame, the Relative Strength Index (RSI) stands at 57.33, indicating a neutral trend. If the price manages to break above $2700 level, then it will likely climb further to test $3088 resistance level. Breaking above this level, will likely see price testing $3269 mark.
Conversely, if the bears take control and push the prices below the recent support level of $2563, then the price will likely test the $2448 support level. If price breaks below this level, then it will likely head towards $2257 support level.&nbsp;

Ethereum Price Eyes Further Gains Amid Positive Market Momentum

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