Ethereum (ETH) Pumps and Dumps: The Next Potential Targets Revealed

Ethereum, the largest altcoin, briefly climbed above $2,400 after a cryptocurrency rally following the Democrats’ win in the U.S. midterm elections, then dropped below $2,300. X user Ted said ETH had recovered its 50-day exponential moving average, a price trend line, which he called a sign of strength; Merlijn The Trader said it was retesting a band that has held since 2018. Ali Martinez said a chart-based TD Sequential indicator flashed a buy signal after ETH fell to about $2,200 and cited possible rebounds toward $2,500 and then $2,700. Spot ETH exchange-traded funds attracted more than $50 million in a day, their highest daily inflow since September, while the relative strength index near 72 suggested overbought conditions and a possible pullback.