Ethereum

Bitcoin

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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/altcoin/ethereum-displays-a-concerning-pattern-on-the-1-year-chart-is-eth-price-aiming-for-1400/">Ethereum Displays A Concerning Pattern On The 1-Year Chart! Is ETH Price Aiming For $1,400?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In recent weeks, Bitcoin has shown significant consolidation near the $29,500 range. However, it recently dipped below the $28,500 threshold. This movement has ignited a strong selling sentiment in the market, a trend that <a href="https://coinpedia.org/price-analysis/ethereum-price-analysis-in-this-quick-decline-will-eth-price-resist-a-drop-below-1800/" rel="noopener noreferrer nofollow">Ethereum has also reflected</a>. Presently, Ethereum’s annual price chart indicates that it’s at a crucial point. There’s a potential for it to breach its monthly support line, which could trigger another round of selling.&nbsp;</p> 
<h2 id="bulls-liquidated-nearly-37-million-worth-of-positions" data-name="bulls-liquidated-nearly-37-million-worth-of-positions" class="wp-block-heading">Bulls Liquidated Nearly $37 Million Worth Of Positions&nbsp;</h2> 
<p>Recently, the price of ETH saw a sharp decline, approaching the $1,850 mark. This forced long position holders to quickly lock their profits. Data from Coinglass indicates a surge in long liquidations, exceeding $36.5 million in just the past three days. This trend has intensified selling momentum at higher levels, creating a robust resistance close to $1,850.</p> 
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 <img decoding="async" src="https://lh6.googleusercontent.com/iPtns7I2J4q2pkezFS0ft6FRXpxfz5ZMSkEnb-EY5GJJlZXOQpoQvALwrtn6pH1eVi5nfW092YvVKq8OPmHUw3iaGLl_Y_jQtQqBDJvxrRQAuiBlfo-__o6ppf6AHCw3535_lN_MXB5u8nic4cmMG_o" alt=""> 
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<p>The 1-year price chart for ETH is showing signs of concern. Amidst months of consolidation, Ethereum’s movement within a particular bracket has market enthusiasts awaiting a clear trend, which might emerge by September.&nbsp;</p> 
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 <img decoding="async" src="https://lh5.googleusercontent.com/V50YOfJI0tlP3Yih9fypo-h2TKgxLfbrqxIU2w5UdrI5V1QKPcnph-mig7pHfR_mfhJLooynI9_uoBa6QEaUZmItuXlfrUwkuOhlL4L-Lxi_JCkk3I-Xd12mdtZ2KZqdioKjULWa6nnGMp6Sd44gtog" alt=""> 
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<p>Since FTX’s collapse last November, Ethereum’s price has followed a rising wedge pattern. While it has consistently met its support levels in the past, the pattern seems to be converging, hinting at a final move. A drop below the support line could accelerate the confidence of long-term put holders, with predictions pointing to a potential dip to the $1,400 mark.&nbsp;</p> 
<p>However, such a decline might require significant bearish news in the market. On the brighter side, Ethereum has historically bounced back by 20-30% after successfully testing its support. If it manages to rally from the current support level of approximately $1,750, we could see a surge toward the $2,000-$2,100 range.</p> 
<h2 id="whats-next-for-eth-price" data-name="whats-next-for-eth-price" class="wp-block-heading">What’s Next For ETH Price?&nbsp;</h2> 
<p>Ether’s inability to hold momentum above $1,800 has led to increased selling, driving the price down to a crucial long-term support level of $1,850. However, bulls are defending a decline strongly as there’s buying pressure near the dip. As of writing, ETH price trades at $1,776, declining over 1.7% in the last 24 hours.&nbsp;&nbsp;</p> 
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 <img decoding="async" src="https://lh6.googleusercontent.com/xOro10e_oCBl4gLgGnyCLdp9-T_u9z7f-me1HUzQPK-RF7N-5i2epxv_0VjHMqAu3PnibgCS6Z4CiZZ4mnCWCKk-HE2FWxjzA1E-hevKl21AtyJfdR52WTgJrEUUAqY2CcFzmT-MYZdLk_UEdLU78Io" alt=""> 
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<p>With the declining 20-day EMA and the RSI trading way below the selling zone at level 15, it indicates that the bears are currently dominating. If the price consistently falls and drops below $1,703, we might witness a sharper sell-off, potentially pushing the ETH price to $1,626.</p> 
<p>However, to turn things around, bulls must rebound the price from $1,850 and push the price beyond the 20-day EMA at $1,818. Achieving this could pave the way for a rise to consolidation around $1,860.&nbsp;</p>

Ethereum Displays A Concerning Pattern On The 1-Year Chart! Is ETH Price Aiming For $1,400?

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