Thursday appears to be the start of Ethereum's consolidation after a 24-hour decline. The amount of long liquidations started to rise once more, reaching $35.1 million in the previous day.<\/p>\n\n\n\n
Given that ETH has been trading in this range for the last 13 days, the $3,024 to $3,200 range looks to be very robust, both at the top and lower ends. Since spot ETH ETFs seem improbable with each fresh piece of information, ETH may stay inside the range given the recent decrease.<\/p>\n\n\n\n
But in the near run, ETH's movement will still be determined by changes in Bitcoin's price. Given its recent indication of a rally before the dip, ETH may likely witness larger price gains if Bitcoin maintains its upswing. Since the price of Ethereum seems to have already been factored in, an SEC spot ETH ETF refusal may not necessarily cause the price to rise.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Moves Below $64K Following An Unsuccessful Test of The 50-EMA, ETH Plots A Solid Bullish Breakout To Keep The Price Above $3.3K","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-moves-below-64k-following-an-unsuccessful-test-of-the-50-ema-eth-plots-a-solid-bullish-breakout-to-keep-the-price-above-3-3k","to_ping":"","pinged":"","post_modified":"2024-05-02 08:30:22","post_modified_gmt":"2024-05-01 22:30:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16630","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"};