ETH is a Really Good Investment Opportunity, As It Is In A Solid Accumulation Phase

Ethereum (ETH) is still in an accumulation phase despite a breakout to $2,697 on Tuesday, but sellers quickly reversed course. This shows strong selling pressure around the $2,700 level. Looking at the daily chart, we can see that neither the bulls nor the bears have been able to take the initiative and dictate the price action. Since losing $2,700 on August 12, ETH has struggled to gain momentum, with buyers failing to make a significant push to higher levels. However, they have held ETH above $2,500, showing strong support at this level. ETH has been relatively quiet since Friday when it recorded a 9.93% gain to move to $2,594. Saturday saw another small increase that allowed ETH to settle above $2,600 at $2,614. A push to $2,700 failed to materialize on Sunday as sellers were able to push the price down from an intraday high of $2,684. Sellers attempted to push ETH lower on Monday, but buyers were able to regain control and push ETH to $2,639 after a 1% gain. Buyers made a strong push to break above $2,700 on Tuesday as ETH hit an intraday high of $2,697. However, with sellers aggressively defending this level and the 20-day SMA also coming into play, bullish sentiment has waned as ETH has fallen back 2.44% to $2,574. The current session sees ETH up nearly 1% and trading at $2,599.