Ethereum

bullish

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<p>In the daily chart, the Ethereum price action showcases a record-high trendline, gaining momentum. With a massive bullish engulfing candle formed last night, the Ethereum price soared 10%.&nbsp;</p>   
<p>Will the refreshed Ethereum rally reach $4,000? Read this Ethereum (ETH) price analysis to find out!</p>   
<h2 class="wp-block-heading" id="h-ethereum-price-analysis">Ethereum Price Analysis</h2>   
<p>The trendline breakout marks the broadening wedge breakout rally and briefly reclaims the $3,600 mark. With the new bullish engulfing candle, the Ethereum price trend marks a change in trend sentiment and increases the upside potential.&nbsp;</p>   
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 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/28124916/image-25-1024x509.webp" alt="Ethereum (ETH) Price Chart" class="wp-image-386393">
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<p><a href="https://www.tradingview.com/x/om1UiYJp/" target="_blank" rel="noreferrer noopener nofollow">Tradingview</a></p>   
<p>The bullish engulfing candle extended from $3,323 to a 24-hour high of $3,688. The price leap initiated from the 61.80% Fibonacci level and challenged the 78.60% level.&nbsp;</p>   
<p>However, the overhead supply kept the bullish growth under check, resulting in an intraday pullback of 1.87%. Currently, the Ethereum price is trading at $3,589.&nbsp;</p>   
<h3 class="wp-block-heading" id="h-technical-indicators">Technical Indicators:</h3>   
<p><strong>EMA</strong>:&nbsp; The massive bullish engulfing candle reveals the increased bullish influence that has resulted in the golden crossover. Furthermore, the 100-day and 200-day EMA have given a bullish crossover, increasing the overall sentiment.&nbsp;</p>   
<p><strong>MACD</strong>: The MACD and signal lines have avoided a bearish crossover for the second time and maintain a positive alignment as the bullish histograms resurface. Hence, the technical indicators side is on the Ethereum bulls.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-institutional-support-on-the-rise-with-growing-ethereum-etfs">Institutional Support on the Rise With Growing Ethereum ETFs</h2>   
<p>With a daily net inflow of $90.10 million on Nov. 27, the cumulative net inflow on the Ethereum ETF rose to $240.41 million. Leading the inflow pack, Fidelity’s FETH accumulated $38.01 million worth of inflows, followed by Grayscale's $37.29 million and VanEck’s $13.25 million.&nbsp;</p>   
<p>Most of the rest of the US-spot Ethereum ETF registered a net zero flow, with Bitwise's ETHW having a net inflow of $1.56 million. With the total net assets of the Ethereum spot ETF rising to $10.80 billion worth 2.47% of the Ethereum market cap, the institutional support is gradually increasing. This will likely boost the market price for Ethereum in the coming months.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-will-eth-price-hit-4-000">Will ETH Price Hit $4,000?</h2>   
<p>Despite the intraday pullback, the recovering market sentiments anticipate a bounce back in US trading hours. The recovery run will surpass the $3,668 resistance, painting the $3,800 level as the next pitstop.&nbsp;</p>   
<p>On the flip side, a slowdown in US trading will test the $3,400 support level.&nbsp;</p>   
<p>Wondering if the bull run in ETH will surpass $4,000 in 2024? Find out now in Coinpedia’s well-rounded <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">ETH price prediction</a>!</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732778367336">
  <strong class="schema-faq-question">What is the current price of Ethereum?</strong> 
  <p class="schema-faq-answer">Ethereum is trading at $3,589, showing an intraday pullback of 1.87% after a bullish surge of 10% the previous day.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732778370795">
  <strong class="schema-faq-question">Can Ethereum surpass the $3,668 resistance in the near term?</strong> 
  <p class="schema-faq-answer">Ethereum’s bullish momentum, supported by a golden crossover and strong market sentiment, suggests it could break the $3,668 resistance and aim for $4,000.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732778371239">
  <strong class="schema-faq-question">What are Ethereum's key support levels?</strong> 
  <p class="schema-faq-answer">Ethereum’s immediate support level is $3,400, with additional strong support at $3,200, marking the breakout trendline level.</p> 
 </div> 
</div>

Ethereum (ETH) Price Prediction (Nov 28th 2024)

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