Ethereum

<p style="text-align: justify"><strong>Ethereum</strong> price predictions have become alarming with the recent formation known as the falling wedge. Following its 2023 peak, Ethereum (ETH) experienced a price decline, mirroring the recent trend in <a href="https://en.coin-turk.com/bitcoin-surges-past-30000-amid-positive-impact-of-spot-bitcoin-etf-applications/" data-wpel-link="internal">Bitcoin</a>. This market shift has revealed a concerning technical formation on the ETH chart, known as the falling wedge. <a href="https://en.coin-turk.com/afraid-of-losing-sec-stepped-back-in-controversial-cryptocurrency-case/" data-wpel-link="internal">Crypto</a> analyst Alan Santana sheds light on this formation and its potential impact on Ethereum’s future trajectory.</p> 
<h2 style="text-align: justify" id="ethereum-predictions-falling-wedge-formation-as-a-bearish-signal">Ethereum Predictions: Falling Wedge Formation as a Bearish Signal</h2> 
<p style="text-align: justify">According to Santana’s analysis, the emergence of the falling wedge formation on the ETH chart is sounding alarms about the cryptocurrency’s price expectations. Santana notes that Ethereum previously formed a well-defined rising wedge, which eventually led to a downward trend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-291355 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/alan-santana-eth-cointurk.png" alt="" width="1889" height="665"></p> 
<p style="text-align: justify">This development indicates that Ethereum’s price is undergoing a “normal but rapid correction” in line with broader market trends.</p> 
<h2 style="text-align: justify" id="supportive-evidence-from-macd-and-rsi-indicators">Supportive Evidence from MACD and RSI Indicators</h2> 
<p style="text-align: justify">Santana uses technical indicators such as the Ethereum MACD and Relative Strength Index (RSI) to reinforce the bearish outlook. The daily chart’s MACD shows a clear downward trend, highlighting increased bearish pressure on the altcoin ETH.</p> 
<p style="text-align: justify">Furthermore, Santana points to a clear downward trend in the RSI, which loses its support line and falls below the threshold of 50. These combined indicators suggest a shift towards a bearish trajectory for the altcoin Ethereum.</p> 
<h2 style="text-align: justify" id="warning-signs-double-top-formation-and-declining-volume">Warning Signs: Double Top Formation and Declining Volume</h2> 
<p style="text-align: justify">Santana highlights additional warning signs for the cryptocurrency Ethereum, drawing attention to a double top formation and decreasing trading volume. The analyst describes the gradual decline in volume as the calm before the storm.</p> 
<p style="text-align: justify">As the altcoin Ethereum navigates the complexities of market dynamics, the emergence of a falling wedge formation alongside bearish indicators points to a challenging road ahead. The warnings from Santana’s analysis underscore the importance of caution when monitoring Ethereum’s price movements as the cryptocurrency market continues to evolve.</p> 
<p style="text-align: justify">Looking at the Ethereum price, the leading altcoin ETH is trading at $2,165 at the time of writing. The ETH price has remained stable in the last 24-hour period.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/ethereum-price-forecast-bearish-signals-from-falling-wedge-formation/" data-wpel-link="internal">https://en.coin-turk.com/ethereum-price-forecast-bearish-signals-from-falling-wedge-formation/</a>

Ethereum Price Forecast: Bearish Signals from Falling Wedge Formation

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