Ethereum Price Falls Amid Rising Oil Prices
Ethereum's price fell to about $2,665 on September 28, a 1.5% decline from its previous day's value, amid rising oil prices following a setback in US-Iran talks.
The increase in oil prices, which rebounded after President Donald Trump rejected Iran's latest proposal, had a negative impact on the broader crypto market, including Ethereum.
According to CoinGlass's three-day liquidation heatmap, there is a band around $2,700 and concentrations of activity near $2,740-$2,750, both above Ethereum's current price. The heatmap also shows activity around $2,640-$2,650 and another band near $2,620.
Crypto analyst Ella identified $2,715-$2,720 as the first upside test after Ethereum bounced from around $2,667, while Gerla noted that Ethereum's relative strength index is making lower highs while price holds its broader breakout structure.