Notwithstanding the latest Dencun Upgrade, which was anticipated to be a bullish factor with a positive impact on ETH price, the price of Ethereum is plunging, directly following the lead of BTC. Given the bearish technical indicators, the price of Ethereum may continue to decline and test the immediate support at $3.5k.<\/p>\n\n\n\n
If the previously indicated level gives way as support, the price of Ethereum may fall through this buyer's congestion level and hit $3,200, which would represent a 12% decrease from the current price.<\/p>\n\n\n\n
On the other hand, Ethereum's price can rise if the bulls make a comeback. The likelihood of the upswing continuing would increase if there was a substantial jump in bullish momentum and the severe resistance resulting from the identical lows of $3,700 was flipped into support. This scenario might cause ETH to rise directly to the peak of the $4,020 range.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Could Test The Support At $60K Despite The Current Bullish Trend, And The ETH Might Initiate A Bearish Trend Reversal If The $3.5K Support Is Broken","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-could-test-the-support-at-60k-despite-the-current-bullish-trend-and-the-eth-might-initiate-a-bearish-trend-reversal-if-the-3-5k-support-is-broken","to_ping":"","pinged":"","post_modified":"2024-03-19 02:03:13","post_modified_gmt":"2024-03-18 15:03:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15917","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"};