$ETH

Ethereum’s Short-Term Outlook: What to Watch in the Next 24 Hours

Ethereum (ETH) has been holding near the $1,700 level, drawing interest as the overall crypto market begins to rebound. The next 24 hours could be crucial in determining whether ETH is gearing up for a sustained upward move or simply undergoing a brief consolidation. Several factors are likely to influence its momentum in the near term.

Market sentiment is gradually improving, largely thanks to Bitcoin’s recent gains, which are creating a more favorable environment for altcoins like Ethereum. If Bitcoin continues its upward momentum, Ethereum is expected to benefit from the positive spillover. From a technical perspective, Ethereum presents mixed signals. The Relative Strength Index (RSI) is approaching a neutral range, suggesting there is still room for upside before becoming overbought. Additionally, short-term moving averages are beginning to show a bullish tilt, which could support further growth if reinforced by strong volume.

On-chain data also reflects a modest increase in network activity and rising exchange outflows—both considered bullish indicators. However, any unexpected developments in macroeconomic indicators or regulatory policies could swiftly change the market direction.

To sum up, Ethereum is at a critical juncture. If trading volume supports a breakout above $1,750, it may spark a short-term rally. Otherwise, ETH could remain range-bound while waiting for clearer market cues.