Ethereum

Satoshi

April

Altcoin king surpasses $2,000 with BlackRock news, but <a href="http://en.coin-turk.com/bitcoin-surges-past-30000-amid-positive-impact-of-spot-bitcoin-etf-applications/" data-wpel-link="internal">BTC</a> volatility hinders new peaks. Long-term price increase significant due to ETF applications by Fidelity and BlackRock. However, short-term performance is tied to market sentiment. After the PoS transition, ETH did not perform as expected. 
<h2 style="text-align: justify;" id="ethereum-eth-analysis">Ethereum (ETH) Analysis</h2> 
ETH price began recovering in October and during the rise, it surpassed the descending resistance line from the April 16 peak of $2,140. It has not yet retested the trend line for support. The altcoin king made a lower peak on November 24 and is currently a victim of profit-taking, as indicated by the long upper wick. 
Analyst ColdBloodShill wrote that the price could fall to $1,900 before rising. Satoshi Flipper is among those who believe ETF applications will eventually motivate investors. 
<blockquote> 
 “When spot ETFs are launched, a ton of institutional capital will flow into Ethereum. The time for this to reflect on the price is coming.” 
</blockquote> 
Lastly, analyst CryptoBusy stated that the tough resistance is at $2,100, predicting that this level will soon be broken for the last time, leading to an impressive surge. Currently, the ETH price is at $2,012, and as long as BTC remains under $37,000, the resistance area could be out of reach. 
<h2 style="text-align: justify;" id="eth-price-prediction">ETH Price Prediction</h2> 
Ethereum price charts with applied Elliot wave counts have yielded good results in the past. The latest chart shows ETH price in the C wave of an A-B-C corrective structure, following a five-wave upward movement that began in October. 
<img decoding="async" class="wp-image-281579 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/ETH-Guncel-Analiz.png" alt="" width="1105" height="528"> 
According to this, it seems likely that the price will test the $1,900 level as indicated by ColdBloodShill. However, it’s uncertain what development will trigger this. The most likely scenario involves BTC dipping to $35,000 when this happens. 
If the C wave extends to 1.61 times the length of the A wave, ETH could fall to the $1,760 support level, a 13% drop from the current price. But if the price closes above the peak of the B wave at $2,136, it could rally towards $2,500. 
<ul class="summary"> 
 <li>ETH faces volatility and uncertain performance.</li> 
 <li>Analysts predict significant price movements ahead.</li> 
 <li>Technical analysis suggests possible future support.</li> 
</ul> Continue Reading: <a href="https://en.coin-turk.com/understanding-the-current-ethereum-market-price-movements-and-predictions/" data-wpel-link="internal">https://en.coin-turk.com/understanding-the-current-ethereum-market-price-movements-and-predictions/</a>

Understanding the Current Ethereum Market: Price Movements and Predictions

Table of Contents

COINTURK NEWS

Other articles published on Nov 27, 2023

Judge says CZ cannot leave U.S. before sentencing

Richard Teng Takes Helm at Binance: Charting a New Course in Crypto Leadership

“Footprints of Civilization” Preview Open

Breaking: Japan’s SBI Holdings Inks Deal With Circle To Circulate USDC

Shiba Inu Burn Rate Explodes 499,416%, Can This Send SHIB To $0.1?

BRICS: Why Is the Indian Rupee Crashing Against the US Dollar?

Join our free newsletter for daily crypto updates!