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Ethereum (ETH) Price Analysis for October 26

Ethereum (ETH) Price Analysis for October 26


Bulls are back in the game as all of the top 10 coins are in the green zone.

Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) is the biggest gainer today, rocketing by 13.15% over the last 24 hours.

ETH/USD chart by TradingView

On the hourly chart, Ethereum (ETH) has formed the support level at $1,480.90 with a false breakout. Meanwhile, the resistance was formed at the $1,557 mark. At the moment, one needs to pay close attention to $1,500.

If bulls can hold the price above this level until the end of the day, the growth might continue.

ETH/USD chart by TradingView

On the daily time frame, Ethereum (ETH) has kept the rise after the breakout of the resistance at $1,407. There are high chances to see the further upward move as the main altcoin has accumulated enough energy in the wide channel for more than one month for a midterm bull run. If the rise continues, one can expect a test of the $1,789 level by mid-November.

ETH/BTC chart by TradingView

A similar situation is on the chart against Bitcoin (BTC), as the price of ETH blasted after the breakout of the BTC 0.017175 mark. The nearest area at which bulls might face bears’ pressure is the BTC 0.077 zone.

Ethereum is trading at $1,519 at press time.



Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.

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