From 24/7 Wall St. · Sam Daodu · · 50s
Ethereum Breaks $2,672, Eyes on $3,000
Ethereum just hit $2,672 after Bitcoin short squeeze, with $3,000 in sight if it holds.
In brief
Ethereum just hit $2,672 after Bitcoin short squeeze, with $3,000 in sight if it holds. Ethereum's rise is driven by Bitcoin's short squeeze, not its own momentum. Originally reported by 24/7 Wall St..
Ethereum crosses $2,672
Ethereum traded at $2,725 today, a 5.4% gain in 24 hours.
Fibonacci level tested
Traders watched the $2,672 Fibonacci retracement for weeks before it broke.
Bitcoin short squeeze
Bitcoin surged 1.5% as exchanges liquidated $313 million in short positions.
Ethereum gains with Bitcoin
Ethereum rose 5.4% alongside Bitcoin during the market rally.
Key resistance levels
The next resistance is $2,800, followed by $2,950 to $3,000.
Weekly close critical
Ethereum must close above $2,672 by September 27 to reach $3,000.
In short
Ethereum's rise is driven by Bitcoin's short squeeze, not its own momentum.
