Ethereum Struggles To Reach Higher Highs Unlike BTC: Key Levels ETH Must Break

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,255,143,617,941	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,255,143,617,941

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	546.23	0.86%	63,876.80	63,876.80	63,876.81

Price Change

Price Change %

Current Price

Bid Price

Offer

546.23

0.86%

63,876.80

63,876.81

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,106.75	62,985.00	63,330.57	63,330.57	26,521.32 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,106.75

62,985.00

63,330.57

26,521.32 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:20:57	0.000465	63,876.81	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:20:57

0.000465

63,876.81

USD

Price x Volume	Volume	Base Symbol	Related Pairs
81,166,632.69	1,272.04	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

81,166,632.69

1,272.04

Ethereum Struggles To Reach Higher Highs Unlike BTC: Key Levels ETH Must Break

01/10/2024 7:00am

NEWSBTC

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has recently lagged behind other top tokens, posting losses on both a 24-hour and weekly basis. Despite this downturn, some analysts believe that if Ethereum can overcome critical resistance levels in the near future, it may follow seasonal trends typically seen in “Uptober,” potentially leading to a price recovery. Ethereum Struggles To Break $2,800 Resistance Technical analyst Daan Crypto Trades recently pointed out that Ethereum has yet to make a higher high, a feat achieved by Bitcoin (BTC) last week. In order to reverse its current trend, the analyst explains that ETH needs to break through the $2,800 level, which coincides with the daily 200 exponential moving average (EMA). Currently, Ethereum’s price has retraced over 1% in both the last 24 hours and the past week, currently trading at $2,611. This decline contrasts with the gains recorded over the past two weeks (14%) and the past month (4%). Related Reading: XRP Price Ready For 4x Jump To $2.6 As Major Bullish Pattern Breaks Occurs Despite marking a higher low of $2,640 at the end of the previous week following a nearly 20% drop on September 6, where prices fell to $2,150, ETH remains far from its yearly high of nearly $4,000 achieved in the first quarter of this year and its all-time high of $4,878 from November 2021. In contrast, Bitcoin recently reached a two-month high of $66,500, moving closer to its all-time high of $73,700 set in March, highlighting the stark difference in performance between Bitcoin and Ethereum during this period However, much like Daan Crypto Trades, other analysts maintain a bullish outlook for Ethereum if important support levels are held by the bulls and if the price can break through key resistances. Analysts Forecast New All-Time High In Early 2025 Market expert Guru Vedas has recently noted that ETH appears to have hit a curve support on its two-hour chart, with support levels between $2,550 and $2,600. He suggests that a recovery could be imminent from this support base. Another analyst, known as “Man of Bitcoin,” echoed this sentiment, asserting that ETH could continue to rise as long as it remains above $2,560. He identified key support levels for a larger wave, ranging from $2,539 to $2,351, which are critical for any near-term recovery. Related Reading: US Spot Bitcoin ETFs Become Second-Largest Holder Of BTC Behind Satoshi Adding to the optimism, analyst Ted Pillows highlighted that Ethereum is forming a similar fractal pattern to one observed during its previous bull cycle, which saw prices surge from $1,600 to $4,000. The analyst predicts that the ETH price could reach between $4,000 and $4,400 by the end of this year, with a potential new all-time high anticipated in the first quarter of 2025 above $4,800. Featured image from DALL-E, chart from TradingView.com

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