The Ethereum price is on a roll over the past 24 hours with new resistance levels being breached. ETH is currently trading at the $2600 level which represents its next level of resistance after having breached the $2400 mark quite easily. Although there could be small retracements along the way, the path appears to be clear for Ethereum to continue scaling new levels and perhaps even targeting the $3000 level in the immediate short term. The cryptocurrency market seems to be gripped by positive sentiment all around and Ethereum is certainly no exception. Institutional investors seem to have returned to the market and the ease with which Ethereum sailed through the psychologically significant $2400 level is an indication of more strength in this sector. If you haven’t yet bought some Ethereum, then this How To Buy Cryptocurrency Beginner’s Guide would be a good place to start. Short Term Forecast For Ethereum Price: The $2900 Level Is The Next Barrier Get FREE Crypto Signals Now! Ethereum is up by a staggering 30% from its July 20 low of $1700 having traded at over the $2600 level over the past 24 hours. Bullish momentum appears to have entered the market in a big way and the Ethereum price is a reflection of this. It has risen consistently every day for a period of 11 days and shows no sign of stopping. It seems that bears have disappeared from the market, at least for now. A bullish thesis would mean that the ETH price would continue its uptrend and make a beeline for the $2900 mark. This would be an 11% increase from the current price. Although the daily chart appears to be lacking a follow-through momentum, bears seem to be mysteriously absent from the market. If bears do come in, then one would expect a 10% drop to below the $2400 mark after which the $2100 levels could again be retested. However, that scenario does look unlikely as bullish strength seems to be prevailing as in most of the crypto market. If you haven’t yet bought some cryptocurrency then it would be a good idea to take a look at these Best Cryptocurrency Brokers. Long Term Forecast For ETH: Bulls Are Back In Town Although there remain some downside risks with regards to Ethereum, the general outlook seems to be a bullish one. It seems that bulls have defied the much-vaunted death cross and sailed above the $2500 mark to tackle the $2600 level. The next step for Ethereum would now be the $2900 level after which a strong buying spree could take it all the way up to the $3300 level. This would be an 11% appreciation from its current price. Long term, Ethereum seems to be showing a lot of strength and by the end of the year, the $4500 level need not be out of the question. Looking to buy or trade Ethereum now? Invest at eToro! Buy ETH Now Capital at risk Gerald Fenech Gerald Fenech Freelance journalist and writer with over ten years experience in forex and fintech writing. Specializes in crypto and blockchain View All Post By Gerald Fenech Crypto NewsForex News Today: Daily Trading News share Read Next Bitcoin Price Weekly Analysis: BTC Price Stalls at the $42,400 Level Nancy Lubale 1 year The Ethereum price is on a roll over the past 24 hours with new resistance levels being breached. ETH is currently trading at the $2600 level which represents its next level of resistance after having breached the $2400 mark quite easily. Although there could be small retracements along the way, the path appears to be clear for Ethereum to continue scaling new levels and perhaps even targeting the $3000 level in the immediate short term. The cryptocurrency market seems to be gripped by positive sentiment all around and Ethereum is certainly no exception. Institutional investors seem to have returned to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.