Ethereum

Bitcoin

Momentum

Status

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-market-outlook-and-expectations/" data-wpel-link="internal">Ethereum’s Market Outlook and Expectations</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/proshares-bitcoin-strategy-etf-sees-significant-trading-volume-drop/" data-wpel-link="internal">Bitcoin</a> and the <strong>altcoin</strong> world have been quite exciting recently. The optimistic atmosphere among cryptocurrency investors continues. Bitcoin’s transition to sideways movement and its continuation within a certain price range has led to significant price increases for altcoins. Ethereum has also received its share of this increase lately. The price recently rose above $3,000. However, it is now sagging below this key resistance level. So, what should be expected for Ethereum going forward?</p> 
<h2 style="text-align: justify" id="what-to-expect-for-altcoin-ethereum">What to Expect for Altcoin Ethereum?</h2> 
<p style="text-align: justify">The cryptocurrency Ethereum’s market performance has been quite volatile lately. The cryptocurrency managed to rise above the $3,000 resistance before the bears appeared. However, after this rise, <strong>ETH</strong> is now experiencing a correction in its gains. Yet, the declines may remain limited below the support level of $2,865.</p> 
<p style="text-align: justify">According to recent data, the altcoin Ethereum (ETH) price struggled to maintain above the $3,000 level and subsequently underwent a downward correction. Currently, the price is trading around $2,900 and is above the 100-hour Simple Moving Average. However, on the hourly chart of ETH/USD, a connecting bearish trend line is observed with resistance at $2,950.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-317977 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/ethereum-eth-coin-turk-com-1-2.png" alt="" width="1277" height="543"></p> 
<p style="text-align: justify"><a href="https://coin-turk.com/ethereum-teknik-analizi-30" data-wpel-link="internal">Technical analysis</a> suggests that the cryptocurrency ETH could start a new increase as long as the bears do not push the price below $2,865. However, a tough battle is expected to overcome the $3,000 resistance.</p> 
<h2 style="text-align: justify" id="what-is-the-momentum-status-in-the-rising-zone">What Is the Momentum Status in the Rising Zone?</h2> 
<p style="text-align: justify">For the cryptocurrency Ethereum (ETH), the recent decline occurred with a movement from $3,032 to $2,865, which is above the 50% Fib retracement level. At this point, a move below $2,900 could bring more potential for a decline. However, the support level of $2,865 is expected to be strongly maintained.</p> 
<p style="text-align: justify">Looking at technical indicators, the hourly MACD for ETH/USD is losing momentum in the rising zone. The RSI for the leading altcoin Ethereum is currently hovering near the 50 level.</p> 
<p style="text-align: justify">The main resistance level for altcoin Ethereum (ETH) is shown as $2,975 and the main support level as $2,900. However, there are many factors that could affect Ethereum’s trajectory in the coming days. Therefore, it is important for investors to closely monitor the market and carefully follow developments.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereums-market-outlook-and-expectations/" data-wpel-link="internal">Ethereum’s Market Outlook and Expectations</a></h5>

Ethereum’s Market Outlook and Expectations

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