Ethereum Shows Solid Price Movement, Generates High Surge! - Kakiforex.com - Financial Market Media No. 1 in the World Ethereum Shows Solid Price Movement, Generates High Surge! Ethereum Shows Solid Price Movement, Generates High Surge!
InstaForex

July 27, 2021

Ethereum Shows Solid Price Movement, Generates High Surge!

 The price of Ethereum soared to a high of the past few days, triggered by similar gains in the Bitcoin (BTC) market that emerged with a speculation about Amazon accepting Bitcoin as payment.


The emergence of such speculation has supported the price of the crypto market as a positive signal that has attracted the attention of investors.


‘Whale’ support continues to have a huge impact on the value of Ethereum.


Ethereum showed consistent price movement from last week by producing an 18% positive jump, thus producing a high of around the price of $ 2,433 in today's trading session.


Next, examine the current movement chart of the ETH/USDT price.


When the analysis article was released last week, ETH traded around $ 2,054, consistently producing over 18% positive jumps.



From a technical point of view, ETH has managed to pass the resistance zone around $ 2,360, but ETH has not been able to maintain consistent price movement in today's trading session until it sees a weak price movement or it is just a retracement.


Crypto analysts expect that, if the price movement remains with a bearish pattern, the SBR (support become resistance) zone around $ 2,120 is the next focus to be tested before making a lower decline.


However, if the price movement is just a retracement and shows a bullish pattern again, the price movement will retest the SBR zone around $ 2,240 before making a higher rise or will make the latest high.


At the time of writing, Ethereum is trading around $ 2,176 down over 5% in the last 24 hours.