Ethereum

bullish

Solana

Orderly Network

<ul class="wp-block-list"> 
 <li>Ethereum consolidates above $2,580; bullish momentum may lead to gains.</li> 
 <li>Key resistance at $2,650; breakthrough could propel price higher.</li> 
</ul> 
Ethereum, the largest altcoin, is currently trading at $2,619, marking a 0.63% decline from its 17-day high of $2,688 three days ago. Despite the drop, Ethereum is up 9% over the past week. However, trading volume has decreased by 7%, signaling a potential shift in market sentiment. 
Ethereum’s price has consolidated gains above the $2,580 resistance level, suggesting that it could gather momentum if it manages to clear the $2,650 resistance zone. A bullish trend line has formed with support near $2,600 on the ETH/USD hourly chart. If Ethereum breaks through the $2,650 and $2,680 resistance levels, it may continue its upward movement. 
Although ETH tested the $2,550 support, it rebounded quickly, moving past the $2,580 and $2,600 resistance points. The price surpassed the 50% Fib retracement level from the $2,685 high to the $2,538 low, showing strength. However, it faces hurdles near $2,650, aligning with the 76.4% Fib retracement level. 
<h3 class="wp-block-heading" id="h-potential-breakdown-or-breakout">Potential Breakdown Or Breakout?</h3> 
Key resistance levels lie at $2,685, and if <a href="https://thenewscrypto.com/can-ethereum-eth-rebound-as-uptober-momentum-builds/" target="_blank" rel="noreferrer noopener">ETH</a> breaks above this, the <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noreferrer noopener nofollow">price</a> could surge to $2,750. A successful climb past $2,750 might lead to a rise toward $2,840, with the next resistance at $2,880 or $2,920. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeoIo3w_ehA_wcAv5l_suIDXXKvW_fjvaIr-oBG0PGQQ0ZjON_YvT0F6BcSwdC_mycDJmISZH8kp3kTUAzAUM6ORMwNoYP4nd3gtimLIzVhw2zc9m-teNteZ-iF37ntdpM-wsKsy1h53LGQUcq_9s05KJU?key=LaYEZdp3kmbS4lq8Y4-U2g" alt="">
 <figcaption class="wp-element-caption">
 ETH Price Chart, Source: Sanbase
 </figcaption>
 </figure>
</div> 
Meanwhile, on the downside, if ETH fails to break the $2,650 resistance, it could see a decline. Initial support sits at $2,600, with a major <a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3AETHUSDT" target="_blank" rel="noreferrer noopener nofollow">support</a> zone at $2,570. A drop below this level could drive the price to $2,550 and potentially as low as $2,480. 
Technical indicators show a bullish momentum in the short term, with the hourly MACD in the bullish zone and the RSI above 50. However, options data suggests a strong breakout above $3,000 may not happen until after the <a href="https://thenewscrypto.com/quantity-funds-launches-innovative-us-based-bitcoin-and-gold-etf/" target="_blank" rel="noreferrer noopener">U.S</a>. elections in November. 
Highlighted News Of The Day 
<a href="https://thenewscrypto.com/orderly-network-successfully-deploys-omnichain-orderbook-on-solana/">Orderly Network Successfully Deploys Omnichain Orderbook on Solana</a>

Is Ethereum Ready for a Breakout Above $2.6K?

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