Ethereum (ETH) looks to have found a bottom at long last. $2,000 may well have been that bottom, and $ETH is now starting to claw its way back up. $2,820 is the higher high that would turn the trend back around for the giant layer 1 cryptocurrency.
Has $ETH turned the corner
For $ETH investors, it’s been a long and painful six months, in which time the $ETH price has not only continued to fall against the dollar, but also against some of its layer 1 competitors.
The fact that a Spot Ethereum ETF was granted during this time, and has only had the effect up till now of net selling, has just rubbed salt into the wound.
Nevertheless, it might just be that $ETH has started to turn the corner, at least from a technical analysis perspective. From that $2,000 low, which was probably a bottom, the price has increased more than 17%, to its current price level of $2,433.
$ETH breaks the descending trend line
Source: TradingView
The short term time frame for $ETH shows that the price
We współpracy z: https://cryptodaily.co.uk/2024/09/ethereum-eth-starts-to-break-downtrend
