Why is Ether (ETH) price up today?

Ethereums native token, Ether (ETH), is up today as traders evaluate a slew of favorable updates from cryptocurrency and macro markets.Ethereum future ETF euphoria behind ETH riseOn Sep. 29, Ethers price rose nearly 2.5% to $1,688, its highest level in a month.ETH/ USD everyday price chart. Ethereum rate technical analysisThe Sep. 29 benefit relocation in the Ethereum market has pushed the Ether rate above its 50-day exponential moving average (50-day EMA; the red wave) near $1,770. Source: TradingViewHowever, breaking listed below the 50-day EMA support raises Ethers risks of falling toward the 0.5 Fib line near $1,610 in October, down about 3.75% from existing price levels.This article does not include financial investment suggestions or recommendations.
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Ethereums native token, Ether (ETH), is up today as traders examine a slew of favorable updates from cryptocurrency and macro markets.Ethereum future ETF euphoria behind ETH riseOn Sep. 29, Ethers price rose nearly 2.5% to $1,688, its greatest level in a month.ETH/ USD everyday price chart. Ethereum price technical analysisThe Sep. 29 benefit relocation in the Ethereum market has actually pushed the Ether price above its 50-day exponential moving average (50-day EMA; the red wave) near $1,770. Source: TradingViewFlipping the 50-day EMA from resistance to support allows the ETH cost to eye $1,740 in October 2023 as its next benefit target. Source: TradingViewHowever, breaking listed below the 50-day EMA support raises Ethers dangers of falling towards the 0.5 Fib line near $1,610 in October, down about 3.75% from existing cost levels.This post does not contain financial investment guidance or recommendations.