Ethereum

Bitcoin

when

Notable

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-sees-notable-fluctuations-as-crypto-market-wavers/" data-wpel-link="internal">Ethereum Sees Notable Fluctuations as Crypto Market Wavers</a> 
Ethereum‘s (ETH) price this week saw notable fluctuations in parallel with the sideways movement of <a href="https://en.coin-turk.com/first-physical-bitcoin-heading-to-the-moon-a-significant-milestone-for-crypto-and-space-exploration/" data-wpel-link="internal">Bitcoin</a>‘s (BTC) price, which remained below $58,000. The indecision in Bitcoin’s price direction has hindered the momentum of the rise in the cryptocurrency market, affecting the progress of many leading altcoins, including ETH. 
<h2 style="text-align: justify" id="strong-short-term-target-levels-3-180-and-3-280-strong">Short-Term Target Levels: $3,180 and $3,280</h2> 
Despite the general consolidation in the market, Ethereum saw renewed buying interest as Bitcoin stabilized above $50,000. This resurgence in demand pushed ETH’s price beyond the psychological barrier of $3,000. Investors and traders are now focused on whether the price can maintain its position above $3,000. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-319465" src="https://coin-turk.com/wp-content/uploads/2024/02/Ethereum-ETH-1.png" alt="" width="1946" height="937"> 
ETH‘s recent recovery can be traced back to the end of January when it sustained above an important trend line at $2,166. Over the past five weeks, ETH recorded a 41% increase, reaching its current trading price of $3,062. This recovery was partly fed by the rise in Bitcoin’s price and expectations related to the Dencun update planned to be implemented in mid-March for Ethereum. 
Throughout the past week, Ethereum’s price largely moved sideways, fluctuating between $3,030 and $2,875. However, after a period of consolidation, ETH made a decisive breakout from the range’s resistance, surpassing the $3,000 level. If the price of the altcoin maintains above this level, investors could see potential resistance levels at $3,180 and $3,280 being targeted. 
<h2 style="text-align: justify" id="strong-technical-indicators-sound-the-alarm-strong">Technical Indicators Sound the Alarm</h2> 
Despite the bullish outlook, the daily price chart reveals that Ethereum’s rally is moving within an expanding channel formation. As the altcoin‘s price approaches the formation’s upper trend line at $3,180, it could encounter significant selling pressure and potentially ignite a new correction. 
Furthermore, indicators such as the Exponential Moving Average (EMA) and the Average Direction Index (ADX) point to a strong bullish trend but also suggest the possibility of buyer exhaustion and the need for a minor pullback to regain strength. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-sees-notable-fluctuations-as-crypto-market-wavers/" data-wpel-link="internal">Ethereum Sees Notable Fluctuations as Crypto Market Wavers</a></h5>

Ethereum Sees Notable Fluctuations as Crypto Market Wavers

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