. Daily Crypto Analysis - Ethereum Surges 10%: Shaking Up Crypto Landscape

Daily Crypto Analysis – Ethereum Surges 10%: Shaking Up Crypto Landscape

Daily Crypto Analysis – Ethereum Surges 10%: Shaking Up Crypto Landscape

24 Oct 2023

Introduction:

Ethereum surges with a remarkable 10% gain in trading. At 22:48 on Tuesday, Ethereum was valued at $1,842.48, marking its most significant one-day percentage increase since November 10, 2022. This boost elevated Ethereum market capitalization to $217.17 billion, constituting 17.11% of the total cryptocurrency market capitalization.

Ethereum:

Ethereum climbs 10% in bullish trade.

As of 22:48 (02:48 GMT) on Tuesday, Ethereum was trading at $1,842.48 marking a substantial 10.02% increase for the day. This surge represented the most significant one-day percentage gain since November 10, 2022.

The upward movement bolstered Ethereum market capitalization to $217.17 billion, equivalent to 17.11% of the entire cryptocurrency market capitalization. At its peak, Ethereum market cap reached $569.58 billion.

Over the past week, Ethereum value has climbed, with a 13.2% increase. The trading volume for Ethereum in the twenty-four hours leading up to the current time was $15.66 billion, accounting for 20.33% of the total trading volume across all cryptocurrencies.

Technical Overview:

Moving Averages:

Exponential:

  • MA 5: 1753.55 | Positive Crossover | Bullish
  • MA 20: 1654.05| Positive Crossover | Bullish
  • MA 50: 1616.32| Positive Crossover | Bullish

Simple:

  • MA 5: 1740.37 | Positive Crossover | Bullish
  • MA 20: 1626.58| Positive Crossover | Bullish
  • MA 50: 1590.57 | Positive Crossover | Bullish

RSI (Relative Strength Index): 84.08| Buy Zone |Bullish

Stochastic Oscillator: 97.51 | Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 1842.05| R2: 1962.35
  • S1: 1732.07| S2: 1632.39

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy: 1873.38 | Take Profit: 1960.32 | Stop Loss: 1813.19.

Elsewhere In the Crypto Market

Bitcoin soars to near 18-month high as ETF speculations mount. Ripple’s price has successfully surpassed the resistance levels at $0.500 and $0.540, following a 12% surge over the past five days.

Bitcoin up (4.7%) at 34633.00, Ethereum up (3.8%) at 1,833.8, Litecoin up (1.4%) at 69.79, Solana up (7.44%) at 31.77, Doge coin down at (0.04%) at 0.12 as of writing time.

Key Economic Events & Data Release Today:

(EUR) ECB President Lagarde Speaks at 18:00.