Ethereum

2024

United

Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/ethereum-eth-price-at-risk-of-dropping-below-3k-heres-why/" rel="noopener noreferrer nofollow">Ethereum (ETH) Price At Risk of Dropping Below $3K – Here’s Why</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The total cryptocurrency market cap slipped by around 5 percent to hover about $2.6 trillion on the second day of April. With about seventeen days to the fourth Bitcoin (BTC) halving, more investors are positioning their crypto portfolios for the best returns.&nbsp;</p>
<p>Moreover, the macro crypto bull run takes the entire industry, with some sectors, led by meme coins, outshining the rest.</p>
<h2 class="wp-block-heading" id="h-heavy-crypto-bearish-cloud-ahead">Heavy Crypto Bearish Cloud Ahead</h2>
<p>The cryptocurrency industry has gained over $1 trillion in the past few months following the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States. However, short-term crypto traders rush to take profits and distribute their portfolios for maximum gains.&nbsp;</p>
<p>As market intelligence platform Santiment noted earlier, more crypto traders have been taking shelter in the stablecoins industry recently in anticipation of buying a possible dip.&nbsp;</p>
<p>Consequently, the cryptocurrency market is expected to be on the receiving end in the coming few days before the halving impact gets noticed.</p>
<h2 class="wp-block-heading" id="h-eth-price-action">ETH Price Action</h2>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> dropping below $3,460 is a problem for the bulls! Given the lack of support, it increases the chances for a further <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> correction toward $2,850 or lower. <a href="https://t.co/dFpnpZtBVM" rel="noopener noreferrer nofollow">pic.twitter.com/dFpnpZtBVM</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1775034515221602730?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 2, 2024</a>
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<p>According to an Ethereum price analysis by a popular crypto analyst, Ali Martinez, ETH price will drop as much as $2,850 in the near term. The crypto analyst noted that about 2 million Ether addresses purchased around 1.64 million Ethers between $2,846 and $2,951.</p>
<p>Meanwhile, the daily Fibonacci Retracement shows that Ether’s price against the US dollar must hold onto the support range between $3,193 and $3,298 in the coming days to invalidate a possible capitulation below $2k.</p>

Ethereum (ETH) Price At Risk of Dropping Below $3K – Here’s Why

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