\nEthereum Price Prediction: The overhead supply at $1800 indicates the ETH price may see a minor pullback before the next leap.\t\t\t\t<\/p>\n
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Published 10 mins ago <\/p>\n
Ethereum Price Prediction: Fueled by optimism over the potential approval of a Bitcoin spot ETF<\/a>, the crypto market has seen a surge in buying activity over the past week. As Bitcoin touched the $35,000 mark for the first time in 2023, the ripple effect extended to altcoins which resulted in an extended recovery sentiment. Thus, the second largest cryptocurrency Ethereum broke through its last swing high resistance at $1,745, signaling more room for an upward journey.<\/span><\/p>\n <\/p>\n Also Read: 80% of Bitcoin Holders in Profit, What\u2019s Next? Caution or BTC Price Rally?<\/a><\/p>\n The ETH price has been on a seven-day ascent<\/a>, climbing from an October 19 low of $1,643 to its current trading price of $1,786\u2014a notable 14.10% gain. This upswing enabled Ether to shatter a crucial two-month resistance at $1,745 on October 23, liberating the coin from a sideways range and completing a bullish reversal pattern known as a double bottom.\u00a0<\/span><\/p>\n Despite the rally, the presence of supply pressure near the $1,800 level suggests a possible short-term pullback to retest the $1,745 support. Should the Ethereum price<\/a> successfully validate this level as new support, it would pave the way for an extended rally targeting the $1,970 to $2,000 range.\u00a0<\/span><\/p>\n<\/blockquote>\n According to Dow Theory, breaking past the last high resistance of $1,745 could indicate an early sign of a trend reversal for Ethereum.<\/span><\/p>\n <\/p>\n As for on-chain analytics, the Global In\/Out of the Money (GIOM) metric reveals that 62.13% of Ethereum addresses are currently in the money, realizing profits, while 34.19% are out of the money and experiencing losses. This suggests that a significant majority of ETH holders are in a profitable position, reducing the likelihood of fear selling in the near term.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\nIs ETH Price Heading to $2000?<\/b><\/h2>\n
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![\"TradingView](\"https:\/\/s3.tradingview.com\/snapshots\/y\/YnY4bYiy.png\")
Source- Tradingview<\/span><\/p>\n\n
Global In\/Out of the Money Metric<\/strong><\/h2>\n
![\"Ethereum-](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/image_2023-10-25_18-46-53-e1698240137890.png\")
Source- intotheblock<\/span><\/p>\n\n
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