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08/20 11:22Alcista

Ethereum Price Explodes 9.5% and Stops 1% Short of

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Ethereum Price Explodes 9.5% and Stops 1% Short of THE Level Ethereum has just delivered its strongest daily gain of the summer, jumping 9.51% to $2,098.70 after opening at $1,916.50 and running as high as $2,112. It outperformed Bitcoin by a wide margin, and it is now sitting 1.13% below the single most important level on its chart. Ethereum price today in USD Why Ethereum Price is up today Same trigger as the rest of the market: the US Treasury announced it will at least double its long-dated bond buybacks, pushing yields down and the dollar lower in a move analysts labelled "QE Lite." Easier financial conditions send capital back toward risk. But $Ethereum did not just participate, it led. $ETH gained 9.51% while Bitcoin gained 6.20%. That is the point of this article, because in crypto, who leads tells you what kind of move this is. The setup nobody was watching Ethereum spent seven weeks doing almost nothing. From early July onward, price ground sideways between roughly $1,800 and $1,950, never breaking out, never breaking down. The daily RSI moving average flatlined near 55. Then in one session $ETH travelled 10.87% from its intraday low of $1,904.90 to its high of $2,112, blowing through the $2,000 handle it had not seen in weeks. The number that matters: 2,122.4 Here is the whole story in one line: Ethereum's 200-day EMA sits at $2,122.40. $ETH closed at $2,098.70. That is a gap of 1.13%. The intraday high of $2,112 came within 10 dollars of touching it before sellers stepped in. This is the level Ethereum has been trading below for the entire decline. It is the line that separates "oversold bounce" from "the trend has actually changed." And after seven weeks of nothing, $ETH covered the entire distance to it in a single day and then stalled.

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