As was previously anticipated, the ongoing horizontal price movement indicates that traders are being cautious in the wake of growing skepticism regarding the SEC's approval of a spot Ethereum ETF. Up to significant occurrences like the Bitcoin halving, the sideways trend is probably going to persist.<\/p>\n\n\n\n
If the market eventually reflects the optimistic expectations stoked by the halving, ETH may surpass the current resistance zone of $3.5K - $3.6K. If not, though, there's a chance that the sideways trend will continue and ETH might reach $3,405.<\/p>\n\n\n\n
Once bears win out and ETH breaches the recent major support levels of $3,210 and $3,056, a negative trend is expected to emerge. A break below this support zone might lead the price to retest $2,700.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Price Bouncing Back From $64K Indicates Pure Consolidation, And The ETH Struggles To Survive Above $3K Suggesting An Upcoming Downtrend","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-price-bouncing-back-from-64k-indicates-pure-consolidation-and-the-eth-struggles-to-survive-above-3k-suggesting-an-upcoming-downtrend","to_ping":"","pinged":"","post_modified":"2024-04-15 00:07:33","post_modified_gmt":"2024-04-14 14:07:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16391","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"};
Ethereum's price dropped marginally to $3,448 on Friday, causing long traders to witness large liquidations once again. In the last 24 hours, ETH liquidations totaled $26.9 million, of which $21 million came from liquidated long positions.<\/p>\n\n\n\n
As was previously anticipated, the ongoing horizontal price movement indicates that traders are being cautious in the wake of growing skepticism regarding the SEC's approval of a spot Ethereum ETF. Up to significant occurrences like the Bitcoin halving, the sideways trend is probably going to persist.<\/p>\n\n\n\n
If the market eventually reflects the optimistic expectations stoked by the halving, ETH may surpass the current resistance zone of $3.5K - $3.6K. If not, though, there's a chance that the sideways trend will continue and ETH might reach $3,405.<\/p>\n\n\n\n
Once bears win out and ETH breaches the recent major support levels of $3,210 and $3,056, a negative trend is expected to emerge. A break below this support zone might lead the price to retest $2,700.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Price Bouncing Back From $64K Indicates Pure Consolidation, And The ETH Struggles To Survive Above $3K Suggesting An Upcoming Downtrend","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-price-bouncing-back-from-64k-indicates-pure-consolidation-and-the-eth-struggles-to-survive-above-3k-suggesting-an-upcoming-downtrend","to_ping":"","pinged":"","post_modified":"2024-04-15 00:07:33","post_modified_gmt":"2024-04-14 14:07:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16391","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"};
The general stagnation in the cryptocurrency market on Friday caused a modest decline in the Ethereum price. Although there hasn't been much movement in the price of ETH over the last week, its long-term prospects could be intriguing because Ethereum developers have authorized the inclusion of EIP-3074 in the impending Pectra hard fork.<\/p>\n\n\n\n
Ethereum's price dropped marginally to $3,448 on Friday, causing long traders to witness large liquidations once again. In the last 24 hours, ETH liquidations totaled $26.9 million, of which $21 million came from liquidated long positions.<\/p>\n\n\n\n
As was previously anticipated, the ongoing horizontal price movement indicates that traders are being cautious in the wake of growing skepticism regarding the SEC's approval of a spot Ethereum ETF. Up to significant occurrences like the Bitcoin halving, the sideways trend is probably going to persist.<\/p>\n\n\n\n
If the market eventually reflects the optimistic expectations stoked by the halving, ETH may surpass the current resistance zone of $3.5K - $3.6K. If not, though, there's a chance that the sideways trend will continue and ETH might reach $3,405.<\/p>\n\n\n\n
Once bears win out and ETH breaches the recent major support levels of $3,210 and $3,056, a negative trend is expected to emerge. A break below this support zone might lead the price to retest $2,700.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Price Bouncing Back From $64K Indicates Pure Consolidation, And The ETH Struggles To Survive Above $3K Suggesting An Upcoming Downtrend","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-price-bouncing-back-from-64k-indicates-pure-consolidation-and-the-eth-struggles-to-survive-above-3k-suggesting-an-upcoming-downtrend","to_ping":"","pinged":"","post_modified":"2024-04-15 00:07:33","post_modified_gmt":"2024-04-14 14:07:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16391","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"};