#Ethereum's chart displays strong upward momentum since June, with higher highs and higher lows. After a six-day decline, #ETH formed a green candle today, finding support at the bottom of the rising channel. Traders are now watching for a potential move towards the upper channel.

On The Daily Chart:

In the daily chart, Ethereum has recently reached the 2029 high following a breakout above the trendline. However, a subsequent pullback has occurred as the cryptocurrency faces resistance in its upward momentum. Currently, Ethereum price is trading above the critical $1,875 support against the US Dollar. For a potential uptrend, ETH needs to surpass the $1,920 resistance level. The price has been relatively stable above $1,875, with active buying interest from bulls, akin to the situation observed in Bitcoin.

On The 4-Hour Chart:

Ethereum has been trading in a rising channel pattern on the 4-hour chart for the past month, experiencing fluctuations along the way. Both the RSI and MACD indicators are moving within a flat range. Notably, the price has rebounded, finding support at the 200 4-hour EMA. A crucial point to watch is if ETH surpasses the 50 4-hour EMA at $1,920, which could trigger buying pressure and potentially drive the price towards $2,000 once again.

Based on Coingabbar Price Analysis, Ethereum's market capitalization currently stands at approximately $229,863,558,072. The anticipated 24-hour trading volume is estimated to be around $8,960,503,710.

KEY LEVELS :

RESISTANCE LEVEL : $1,950-$1,980

SUPPORT LEVEL : $1,880-$1,840

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

#GOATMoments #Binanceturns6 #coingabbar $ETH

Crypto News Key Highlights:

A recent social media rumor suggested that BlackRock, the world's largest asset manager, might be changing its digital currency strategy from Bitcoin to XRP. However, this rumor lacks credible sources and originated from a fake news account. While BlackRock has shown interest in cryptocurrencies, there is no concrete evidence of a shift towards #XRP .

The US dollar eased a bit following a drop in consumer sentiment but remained set for its ninth straight weekly gain. The Japanese yen reached a 10-month low. University of Michigan's Consumer Sentiment Index dipped, while import prices and New York Fed factory activity data showed mixed results. The Federal Reserve is likely to maintain unchanged interest rates in its upcoming policy meeting. The dollar index slipped 0.08%, and the euro saw a slight recovery from a six-month low. Meanwhile, the yen continued to weaken against the dollar, hitting a 10-month low.

Robinhood, the once-popular trading app known for meme-stock rallies, is shifting towards becoming a comprehensive financial services firm. It offers retirement accounts, 24-hour trading, and better yields on cash. However, the company has faced challenges, including regulatory scrutiny and changing user preferences, resulting in layoffs and a stock price drop. It aims to diversify its services and expand globally to secure its future in the evolving financial landscape.

Despite #Ethereum's  dominance in DeFi and NFTs, Bitcoin leads in daily active users, with over 800,000 compared to Ethereum's 378,000 on September 15. However, Ethereum processes over 1 million daily transactions, while Bitcoin confirms less than 600,000. Ethereum's activity has fluctuated, partly due to crypto market fluctuations.

Gemini accuses Digital Currency Group (DCG) of engaging in "fraudulent activities" and attempting to evade responsibility for harm to creditors. DCG's proposed deal, opposed by Gemini, seeks creditors' extensions. Gemini claims DCG concealed terms of a $1.1 billion promissory note and owes $630 million, asserting DCG is responsible for subsidiary insolvency.

In 2009, Kristoffer Koch invested $26 in Bitcoin, acquiring 5,000 BTC. He forgot about it until 2013 when he discovered it had grown to $886,000. Today, with Bitcoin at $26,274, his investment would be worth around $131,370,000. Koch bought a luxury apartment but chose to HODL the rest, highlighting the potential of holding onto digital assets. His story echoes the early days of Bitcoin when few could predict its meteoric rise, exemplified by the legendary pizza purchase with 10,000 BTC in 2010.s

The U.S. Department of Justice has criticized FTX founder Sam Bankman-Fried's proposed jury questions, deeming them "unnecessarily intrusive." The questions range from probing potential jurors' opinions on #FTX to inquiries about ADHD and effective altruism. Prosecutors argued that these questions go beyond the purpose of jury selection and may be intended to support the defense's narrative. Additionally, they requested tech infrastructure upgrades for the trial, including high-speed internet and headphones for the jury.