Ethereum (ETH) has been closely tracking Bitcoin\u2019s price action over the past several days and weeks and was able to incur some bullish momentum this past Tuesday separate from Bitcoin, although this movement was short-lived and was closely followed by a retrace back towards its current price levels.<\/p>\n
Analysts are now nothing that Ethereum may currently be positioned for a noteworthy bullish movement in the near-term, as it is currently trading just above a region with massive support.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up marginally at its current price<\/a> of $183.85, which marks a slight climb from its recent lows of $180 that were set overnight.<\/p>\n ETH\u2019s sharp bounce after visiting $180 signals that there is notable support in this region, which is further supported by the fact that it has been finding support around this level in the time since it incurred a massive rally that sent it up to highs of nearly $200 last week.<\/p>\n In the time following this rally, the cryptocurrency has found strong resistance around the lower-$190 region, which may signal that the crypto is currently caught within a relatively tight trading range between $180 and $190.<\/p>\n The formation of this tight trading range has come about amidst declining on-chain volume, which has dropped 11% over the past 24-hours, according to data from TokenAnalyst.<\/p>\n \u201c4H #ETH Network Stats: Price: $185.19 (-0.9%). $ETH On-Chain Volume: $371M (-11.1%). Active Senders: 228K (-0.9%). Active Recipients: 96K (-4.4%),\u201d they noted in a recent tweet.<\/p><\/blockquote>\n \ud83d\udce2 24H #ETH<\/a> Network Stats:<\/p>\n \ud83d\udcb2 Price: $185.19 (-0.9%) Visit https:\/\/t.co\/u90eafzR5J<\/a> for more info<\/p>\n — TokenAnalyst (@thetokenanalyst) October 31, 2019<\/a><\/p><\/blockquote>\n\n
\ud83d\udcb5 $ETH<\/a> On-Chain Volume: $371M (-11.1%)
\ud83d\udc48 Active Senders: 228K (-0.9%)
\ud83d\udc49 Active Recipients: 96K (-4.4%)<\/p>\n