Ethereum

bullish

Rally

Divergence

<ul class="wp-block-list">
 <li><strong>Ethereum price has witnessed a modest dip of 0.60% in the last 24 hours.&nbsp;</strong></li>
 <li><strong>Its daily trading volume has dropped by 20.41% as per CMC data.</strong></li>
</ul>
<p>In attempts to wake up from the weekend slumber, the crypto market has begun to show modest bullish signs. This can be inferred from the overall market cap showing a 2% increase. Meanwhile, Bitcoin is currently docked at the $97K level, defying hopes of $1 million BTC this weekend. This article’s focal point, Ethereum, has also shown similar price movements.&nbsp;&nbsp;</p>
<p>The leading altcoin, although it joined the party a little late, has rallied to its July trading levels. Over the past weeks, Ethereum managed to break through several resistance levels, particularly its prolonged resistance at $2300.&nbsp;</p>
<p>However, in the last 24 hours, the cryptocurrency has shown a brief price dip of 0.60% dipping to the $3300 level after its recent surges. According to CMC <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">data</a>, the altcoin was trading at a high of $3,424 in the Asian morning hours of November 25. At the time of writing, ETH was trading at $3,382.&nbsp;</p>
<p>Moreover, the cryptocurrency, in the past week, hit its 123-day high of $3,497. Its weekly price increase percentage was 8.78%&nbsp; while on zooming out its monthly price increase stands at – 37.52%. This bullish cycle initiated at the $2,503 level and has progressed to its current trading levels.&nbsp;</p>
<h3 class="wp-block-heading" id="h-will-ethereum-price-resume-its-bull-run-soon-nbsp">Will Ethereum Price Resume its Bull Run Soon?&nbsp;</h3>
<p>On inferring technical indicators and ETH’s TradingView charts, the altcoin shows a positive trend. Its Moving Average Convergence Divergence (MACD) shows the signal line standing above the MACD line as per TradingView <a href="https://www.tradingview.com/symbols/ETHUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">data</a>. This indicates the aforementioned bullish trend.&nbsp;</p>
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXed1xgtgmeUofy-5LJ-ciglCaUb38Bi_Ll9L0aPQp0l4FSheV1BRPO7t2qYTp5iCksynQMWSmI-afLmmFSODluvslE4lRF2CzToeS8qk-_IPcCyY8bifFWKiDSq0398AwlcB7qS-Q?key=UT5D2aP8kOq9wTigO_tM6cw1" alt="">
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<p>Moreover, corroborating this further is the Chaikin Money Flow (CMF)’s value standing at 0.19. These indicators suggest that the cryptocurrency might stage a bullish run in the coming days. In the case of a bull run, Ethereum can be expected to face resistance at $3,440 and $3,537. However, if the altcoin continued its descent, it might fall to a support of $3,044.&nbsp;</p>
<p>On the other hand, other cryptocurrencies such as <a href="https://thenewscrypto.com/solana-hits-new-ath-as-bull-run-out-performs-previous-cycles/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> and <a href="https://thenewscrypto.com/xrp-eyes-historic-30-target-as-analyst-maps-path-to-new-heights/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> have also turned mildly bearish in the last 24 hours.&nbsp;</p>

Ethereum Confronts Brief Price Dip Post Recent Upward Rally

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