🚨 Ethereum $ETH Price Surge - Time to Buy! 🚨

Ethereum ($ETH is gaining momentum today, trading at $2,795.59, and up +4.99% in the 24 hour period. The high in the last 24 hours hit $2,827, indicating market bullishness and buyers stepping into the market. The price is well above the 7-day average price of $2,572.57 and noticeably higher than the downwards moving 25-day average price with an estimated absolute price support level of $2,567.76.

Looking at volume, there was over 1.16M ETH traded in the last 24 hours - about $3.17B USDT of traded volume supporting the price movements. Currently, the price is above the recent price resistance levels and moving close to a few previous breakout resistance levels at the $2,881.77 level of price. If the price breaks this resistance, we will likely see this movement sustain to the next level up.

Further analysis of indicators confirm that the 90-day trend indicates a price growth of +49.71; long-term buy/hold investors are beginning to regain confidence in the price trend. It is essential to acknowledge that the 180-day and 1 year trends are still showing negative returns hence caution could warranted. However, if ETH sustains the breakout over the next several days we could very well be looking at evidence of trend reversals or even the beginning of a longer bullish period for ETH.

📈 Will you enter a long position on $ETH or hold on cash to await a pullback? Please comment below!