Crypto News

Ethereum Price Holds Above $149,000

Ethereum Price News

Ethereum Price Holds Above $149,000, Technical Indicators Signal Further Upside

October 26, 2023

Ethereum (ETH) sustained some of its recent upward trajectory early Thursday in Asia, trading as high as $149,148.16, representing a test of the 78.6% retracement of the recent depreciating range from $150,294.32 to $146,000.

The technical outlook for Ethereum is bullish in the short term, with technical indicators such as the moving average convergence divergence (MACD) and the relative strength index (RSI) signaling further upside.

Additional upside price objectives include $150,294, $151,444, $152,595, $153,745, $154,895, $156,046, $157,197, $158,348, $159,499, and $160,650 levels.

On the downside, support levels can be found at $146,000, $145,000, $144,000, $143,000, $142,000, $141,000, and $140,000.

Overall, the technical outlook for Ethereum is bullish in the short term, with further upside potential indicated by technical indicators. However, traders should be aware of the potential for downside volatility, especially if Ethereum fails to hold above the $146,000 support level.

Tips for Long-Term Investment in Ethereum

Ethereum is a versatile platform that can be used to create a wide variety of applications, including decentralized finance (DeFi) projects, non-fungible tokens (NFTs), and metaverse platforms. As a result, Ethereum has the potential to experience significant growth in the long term.

Here are some tips for long-term investment in Ethereum:

  • Invest only what you can afford to lose. Ethereum is a volatile asset, and there is no guarantee that its price will continue to rise. Only invest money that you can afford to lose without it having a negative impact on your financial situation.
  • Do your research. Before you invest in Ethereum, it is important to understand what it is and how it works. Read articles and watch videos about Ethereum, and talk to other investors.
  • Invest for the long term. Ethereum is still a relatively new asset class, and its price is likely to remain volatile in the short term. The best way to invest in Ethereum is for the long term, with a time horizon of at least five years.
  • Use dollar-cost averaging (DCA). DCA is an investment strategy that involves investing a fixed amount of money at regular intervals. This can help you to reduce your risk and average out your purchase price over time.
  • Store your Ethereum safely. Ethereum is a digital asset, and it is important to store it safely. There are a number of different ways to store Ethereum, including hardware wallets, software wallets, and exchange wallets. Choose a storage solution that is right for you and that you trust.

Here are some additional tips that may be helpful for long-term Ethereum investors:

  • Consider diversifying your portfolio. Ethereum is a great investment, but it is important to diversify your portfolio by investing in other assets as well. This will help to reduce your overall risk.
  • Be patient. Ethereum is a long-term investment. Don’t expect to get rich quick. Just hold your Ethereum and be patient, and you may be rewarded in the long run.
  • Monitor the market. It is important to stay up-to-date on the latest news and developments in the Ethereum market. This will help you to make informed investment decisions.

Investing in Ethereum can be a risky proposition, but it also has the potential to generate significant returns over the long term. By following the tips above, you can increase your chances of success.tunesharemore_vertadd_photo_alternatemicsend_spark

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