In the world of finance, cryptocurrencies like Bitcoin and Ethereum are the biggest players that are constantly attracting everyone’s attention. Over the past 24 hours, Bitcoin has surged to the crucial resistance level of $65,000. Ethereum then broke the resistance level of $2.5,000 again this week. Despite the recent decline in the price of Ethereum, it is expected to recover in the coming months.
In the past 24 hours, the price of Ethereum has seen a slight increase of 0.62%. The altcoin has shown increased volatility in recent days, as bulls and bears have tried to take control of the market.
However, the recent price action is showing positive momentum as ETH price managed to climb above $2,650 during the day. At the time of writing, Ethereum was trading at $2,645 according to CoinMarketCap data.
Additionally, ETH price has been approaching the $2.5K level temporarily in the past 24 hours but has managed to resist the bears’ dominance. If Ethereum maintains its positive momentum, it is expected to face resistance at $2,700. Based on the daily chart reading, Ethereum is showing signs of overcoming the recent price decline in the $2,300-$2,500 range.
Meanwhile, U.S. exchange-traded funds (ETFs) recorded modest outflows on Sept. 27, ending a two-day streak of inflows. Grayscale recorded the highest outflow of $36.02 million, outpacing inflows recorded by other ETFs.
What to expect for Ethereum price in the coming months? Ethereum price has seen a 3.93% increase in the past seven days. After the aforementioned decline, the altcoin has started showing bullish candles. Additionally, the monthly price increase is 4.86%, which is largely due to the bullish shift ETH has seen in the past few days.
