Future of Ethereum: Predicting the Price Trend as it Plateaus at $2700

CoinMarketCap07:14

Key Points Ethereum (ETH) faces a roadblock near $2700, despite October recovery. Options market predicts lower chances of ETH reaching $3K before US elections. After a recovery in October, Ethereum...

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class=\"meta\">\n\n\n2024-10-18 07:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://coinmarketcap.com/community/articles/67119a511371cf64c8a224ee/><strong>CoinMarketCap</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key Points\n\nEthereum (ETH) faces a roadblock near $2700, despite October recovery.\nOptions market predicts lower chances of ETH reaching $3K before US elections.\n\nAfter a recovery in October, Ethereum...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/67119a511371cf64c8a224ee/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ETHV","symbol_name":"Vaneck Ethereum 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the roadblock.The roadblock also doubles as a bearish order block and supply zone, which could trigger a price rejection towards the 50-day Exponential Moving Average  at $2.5K.Nonetheless, if Bitcoin  continues its bullish streak above $68K, Ethereum could potentially overcome this hurdle and gain an extra 8%, hitting $2.9K.According to options data from Deribit, the market is less optimistic about Ethereum crossing the $3K mark before the end of October, with only a 6% chance.Ho","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETHV":"Vaneck Ethereum ETF","QETH":"Invesco Galaxy Ethereum ETF","CETH":"21Shares Core Ethereum ETF","EZET":"Franklin Ethereum Etf","ETH":"Grayscale Ethereum Mini Trust","FETH":"Fidelity Ethereum Fund","BTC":"Grayscale Bitcoin Mini Trust"},"translate_title":"以太币的未来：预测价格稳定在2700美元时的趋势","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTC":1,"CETH":1,"ETH":1,"ETHV":1,"EZET":1,"FETH":1,"QETH":1},"content_text":"Key Points\n\nEthereum (ETH) faces a roadblock near $2700, despite October recovery.\nOptions market predicts lower chances of ETH reaching $3K before US elections.\n\nAfter a recovery in October, Ethereum (ETH) hit a stumbling block near the $2700 mark.\nThe leading altcoin managed to reverse losses from the first half of October, climbing back to $2.6K.\nEthereum’s Price Prediction\nSince October 9, Ethereum has seen increased capital inflows.\nHowever, these inflows have slightly tapered off in the past two days, which could potentially disrupt Ethereum’s progress above the roadblock.\nThe roadblock also doubles as a bearish order block and supply zone, which could trigger a price rejection towards the 50-day Exponential Moving Average (EMA) at $2.5K.\nNonetheless, if Bitcoin (BTC) continues its bullish streak above $68K, Ethereum could potentially overcome this hurdle and gain an extra 8%, hitting $2.9K.\nOptions Data Analysis\nAccording to options data from Deribit, the market is less optimistic about Ethereum crossing the $3K mark before the end of October, with only a 6% chance.\nHowever, the odds of Ethereum reaching $3K increase to 21% by November 8, just after the US elections.\nThis suggests that a strong move above $3K for Ethereum may only be possible after the US elections, as the next administration’s stance on DeFi regulation will be crucial.\nThis week, over 220K ETH of Open Interest was added on the Binance exchange, indicating bullish bets.\nHowever, this doesn’t necessarily indicate a future price direction for Ethereum.\nHigh leverage equates to high levels of liquidation risk, especially if Ethereum’s price drops significantly.\nTherefore, the support at $2300, the 50-day EMA, and the roadblock could be key interest levels in the short term.\nPlease note, the information presented does not constitute financial, investment, trading, or other types of advice.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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