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The post <a href="https://coinpedia.org/price-analysis/ethereum-price-prediction-for-q2-ahead-of-the-etf-approval/">Ethereum Price Prediction For Q2 Ahead Of The ETF Approval!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto industry continues to display a negative trend for the second consecutive day, indicating a significant correction in the market. Further, top altcoins continue to bleed, displaying increased selling-over-buying pressure in the crypto space. 
On the other hand, <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/">Ethereum price</a> has lost over 17% within the past seven days, but the token has added approximately 20% over the past 30 days, and its YTD stands at 46.31%. This hints at a positive price action for the altcoin in the long term. 
<h2 class="wp-block-heading" id="h-eth-price-on-the-verge-of-displaying-massive-price-action">ETH Price On The Verge Of Displaying Massive Price Action!</h2> 
The Ethereum price has displayed a significant uptrend in its valuation over the past few months, indicating a rising bullish sentiment in the crypto market. Further, the ETH price had added approximately 37% to its portfolio during the last quarter of 2023, resulting in it concluding the year on a positive note. 
The ETH price continued to gain momentum for the first two weeks of the year, following which the market experienced a significant correction in valuation. However, after testing its low of $2,172, the bulls regained momentum and displayed a bullish price action for a brief period. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/BN9sN22yL87v37dQ1qjgos6JBowoEkwKCbw6gP6z6EWLhSzI9SlSw_bnWmW8rwNcutq00hxR2tbf3R4r5T2BZugykTyiiAgAha2LAAPq8aQLqdSEfKSxPVel0C4LOjwWpTV8szP7UUpa47z7_OXQHus" alt="Ethereum Price Analysis">
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 TradingView: ETH/USDT
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The leader of altcoins, Ethereum, recorded a notable run of over 88.5% over the next 46 days, after which the token faced rejection at the resistance level of $4,096. Since then, the price has been trading under a bearish influence. Positively, the Cross EMA 50/200-day acts as a support, highlighting a bullish outlook in the long term perspective. 
The technical indicator, MACD, displays a rising red histogram, highlighting increased selling pressure pressure in the crypto space. Moreover, the averages show a constant decline in the chart, suggesting a negative price action for the altcoin this week. 
Also Read: <a href="https://coinpedia.org/price-analysis/top-6-altcoins-set-for-6x-rally-in-2024-analyst-lark-davis-list-hot-picks/">Top 6 Altcoins Set for 6x Rally in 2024: Analyst Lark Davis List Hot Picks</a> 
<h2 class="wp-block-heading" id="h-will-eth-price-hit-new-ath-soon">Will ETH Price Hit New ATH Soon?</h2> 
Considering the present market sentiments, if the <a href="https://markets.coinpedia.org/ethereum-etf/">Ethereum ETF</a> hype increases, the bulls will regain power, and the Ethereum price will start trading positively and is predicted to test its upper resistance level of $4,500 during Q2. 
Suppose an unfavorable event occurs, and the crypto industry experiences a bearish trend reversal. In that case, the ETH price will lose momentum and fall to test its lower support level of $3,000 during the upcoming months.

Ethereum Price Prediction For Q2 Ahead Of The ETF Approval!

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