Ethereum

Convergence

America

Divergence

<ul class="wp-block-list"> 
 <li><strong>Ethereum price has factored in a modest price increase in the last 24 hours.&nbsp;</strong></li> 
 <li><strong>The altcoin’s daily trading volume has decreased by 5.61% as per CMC data.</strong></li> 
</ul> 
<p>As another month ends, the crypto market’s speculations have begun to turn into reality. Uptober has begun its upward rally, as evidenced by Bitcoin’s current $72K trading levels. Moreover, other altcoins have also followed in on the rally hitting new trading levels and YTD (year-to-date) increases.&nbsp;</p> 
<p>Meanwhile, the leading altcoin Ethereum has stagnated at its trading levels from the recent price drop. ETH has remained at the $2K level for nearly three months, not having shown significant upward movements since the August market crash. In the last 24 hours, the cryptocurrency has factored in a modest increase of 0.98% raising from the $2,615 level to the $2,643 trading price.&nbsp;</p> 
<p>Additionally, Ethereum has also shown increased volatility in the last few days as indicated by the RVI standing at a high of 75.90. Subsequently, this volatility caused the token prices to hit an intraday high of $2,681, after which it dropped to the current level. At the time of writing, Ethereum was trading at $2,642 as per CMC <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noreferrer noopener nofollow">data</a>.&nbsp;</p> 
<p>On inferring Ethereum price’s chart movements, the cryptocurrency shows amplified struggles to break from the $2,600 consolidation phase. ETH has also further failed to utilize the market’s positive momentum exhibited in the past few days.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-will-ethereum-price-turn-bullish-in-the-coming-days-nbsp">Will Ethereum Price Turn Bullish In the Coming Days?&nbsp;</h3> 
<p>The altcoin, in order to witness bullish movements must manage to surpass the $2,700 resistance and further resistance levels at $3,000. If Ethereum utilizes the present upward movement to surpass the first resistance, it can be expected to turn bullish.&nbsp;</p> 
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<p>Furthermore, the altcoin’s Moving Average Convergence Divergence (MACD) depicts the signal line standing below the MACD line. While this highlights a negative sentiment, the signal line shows potential for a positive crossover. In case of such an occurrence then upward movements can be expected.&nbsp;</p> 
<p>Meanwhile, other cryptocurrencies such as <a href="https://thenewscrypto.com/solana-at-180-technical-indicators-signal-potential-pullback-before-200-push/" target="_blank" rel="noreferrer noopener">Solana</a> and <a href="https://thenewscrypto.com/sui-tokens-surge-overshadowed-by-insider-selling-allegations/" target="_blank" rel="noreferrer noopener">SUI</a> have shown notable upward movements. Additionally, the US spot ETH ETFs have also shown bullish movements by recording $7.65 million in inflows as per Sosovalue <a href="https://sosovalue.xyz/assets/etf/us-eth-spot" target="_blank" rel="noreferrer noopener nofollow">data</a>.&nbsp;</p>

Is Ethereum Price Struggling to Breakout the $2.6K Consolidation?

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