Ethereum price tested the $3,000 level multiple times this week, but the altcoin could not hold above this crucial milestone, which raised questions about its direction. Given that there is an increasing amount of ETH available on exchanges, there is a chance that its price will drop.<\/p>\n\n\n\n
If ETH traders engage in widespread profit-taking, the price of Ethereum may plummet and find support at $2,800. ETH has corrected lower four times this week after rallying near $3,000, but it has not yet broken through support at the 2024 high of $3,033.<\/p>\n\n\n\n
Despite the speculation of a possible price correction, Ethereum's price can still hit the upcoming resistance at $3,200 and keep rallying toward $3,500 if we see a clear bullish breakout at the current resistance at $3,000.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Might Drop 10% As Several Technical Indicators Show Warning Signals, ETH Price Fails To Remain Above $3,000 Amid More Opportunity For Profit-Taking","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-might-drop-10-as-several-technical-indicators-show-warning-signals-eth-price-fails-to-remain-above-3000-amid-more-opportunity-for-profit-taking","to_ping":"","pinged":"","post_modified":"2024-02-26 03:41:24","post_modified_gmt":"2024-02-25 16:41:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15609","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};