Ethereum Rises 5% Amid Bullish Trend, Aiming for $2,450
Ethereum on the Way to 2500 Dollars?
Ethereum (ETH) has gained more than 5% in the last 24 hours. Market indicators and metrics remain bullish for the token. The crypto market has recently taken a bullish turn, bringing gains to most cryptos, and Ethereum was no exception.
Ethereum Finally Turns Bullish
After weeks of downward movement, Ethereum investors were finally able to record gains as the token’s daily chart turned green. According to CoinMarketCap, Ethereum was up by more than 5% in the last 24 hours. At the time of writing, Ethereum was trading at a price of 2,318.33 dollars, with a market capitalization of over 278 billion dollars.
Analyses Suggest Limited Room for Maneuver
However, the latest analysis from CryptoQuant suggests that the probability of ETH moving within a small price range is high. CryptoOnChain, an analyst and author at CryptoQuant, mentioned in an analysis that the derivative market charts show a relatively high number of short transactions, which looks bearish.
ETH’s Bullish Metrics
AMBCrypto’s analysis of CryptoQuant’s data shows that the buying pressure on the token is high. This is evidenced by the fact that its net deposit on exchanges is low compared to the seven-day average. Another bullish signal is its active addresses, which have been increasing recently.
Ethereum’s Resistance Zones
If ETH manages to maintain its bull run, as the metrics mentioned above suggest, the coin could encounter resistance in some zones. The analysis of Ethereum’s liquidation levels shows that ETH, in order to maintain a bull run, must surpass the mark of 2,400 dollars in the near future, and then the mark of 2,450 dollars.
Outlook for Ethereum
The possibility of ETH surpassing these levels is given, as most market indicators are bullish. For example, its Money Flow Index (MFI) has been on an upward trend. Its Chaikin Money Flow (CMF) followed a similar trend, increasing the chances of a sustained upward trend.
You should read that too:
Sources: CoinMarketCap, CryptoQuant, AMBCrypto, TradingView.
The best Ethereum Casinos
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| Wagering requirements | 40x bonus |
| Minimum deposit | 0,1 mBTC |
| Maximum bet | $5 per spin |
| Bonus validity | 7 days to wager |
- There is no cap on winnings or withdrawals.
Advertising transparency