Will Ethereum (ETH) Price Break $2,600 in the Near Future? Here’s the Technical Analysis

The more long-term holders who HODL will also make the price of ETH increase because it means there is long-term trust in this token.

However, investor sentiment towards Ethereum also varies. Although many investors HODL, there is a negative sentiment from investors regarding Ethereum’s ability to reach $2,600. This is because the price of Ethereum decreased by 7.3% from October 1 to 8.

The Impact of an HBO Documentary and the Price of Ethereum

This article was written on October 9, 2024, just when HBO scheduled its newest documentary entitled “Money Electric: The Bitcoin Mystery” to be broadcast.

The film is said to reveal who Satoshi Nakamoto is. The figures believed to be Satoshi Nakamoto are Len Sassaman, Hal Finney, and Adam Back.

This HBO film created a riot among crypto fans. It was stated that the documentary could influence Bitcoin price to Ethereum. Will the prices of BTC, ETH, and other crypto tokens drop when the film is finally shown by HBO?

Ethereum Price Chart Today

When this article was written, Ethereum experienced a price increase of +0.42% so that it was trading at $2,434. Even though the increase did not reach 1%, this can be said to be good news because the majority of crypto tokens today experienced a price decline, including BTC, SOL, and USDT.