Ethereum

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-analysis-and-market-outlook-2/" data-wpel-link="internal">Ethereum Price Analysis and Market Outlook</a><br></p>
<p class="p2" style="text-align: justify"><a href="https://coin-turk.com/bitcoin-btc-ne-kadar-olur-iste-bitcoinde-kritik-grafik" data-wpel-link="internal">The cryptocurrency</a> market did not start off well in the second quarter of 2024, continuing to instill fear and worry among investors. <strong><a href="https://coin-turk.com/ethereum-2-0a-saatler-kalmis-olabilir-gozler-eth-gelistiricilerinde" data-wpel-link="internal">Ethereum’s</a></strong> price could not surpass the $4,000 resistance level, leading to a focus on the downside. Although the crypto market is currently experiencing a downturn, seeing an uptrend in the near future is still possible.</p> 
<h2 class="p2" style="text-align: justify" id="daily-ethereum-chart-analysis">Daily Ethereum Chart Analysis</h2> 
<p class="p2" style="text-align: justify">On the daily timeframe, <strong><a href="https://en.coin-turk.com/ethereum-surges-past-3200-eyes-new-highs/" data-wpel-link="internal">Ethereum</a>‘s</strong> price faced rejection at the $4,000 level in March and has not yet recovered. The market also failed to reclaim the $3,500 level, retreating to a lower point from this region.</p> 
<p class="p2" style="text-align: justify">Currently, the Relative Strength Index (RSI) has also fallen below 50%, making the $3,000 support level seem like a likely target. However, since the price is still trading above the 200-day moving average, the uptrend may not be over yet.</p> 
<p class="p2" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-336533 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/eth-gunluk.png" alt="" width="2253" height="1111"></p> 
<h2 class="p2" style="text-align: justify" id="four-hour-chart-analysis">Four-Hour Chart Analysis</h2> 
<p class="p2" style="text-align: justify">Looking at the four-hour Ethereum chart, the recent market consolidation is more apparent. The price formed an ascending wedge and broke downward, a classic continuation pattern for a downtrend.</p> 
<p class="p2" style="text-align: justify">As Ethereum approaches the $3,000 support level, the <strong>RSI</strong> is dropping below the 30% mark, indicating that Ethereum is oversold in this timeframe. Therefore, it may only be a matter of time before the price potentially rises from the $3,000 support zone.</p> 
<p class="p2" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-336532 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/eth-4s.png" alt="" width="2250" height="1112"></p> 
<h2 class="p2" style="text-align: justify" id="what-s-happening-in-the-ethereum-ecosystem">What’s Happening in the Ethereum Ecosystem?</h2> 
<p class="p2" style="text-align: justify"><strong>Ethereum’s</strong> price recently fell below $4,000, failing to maintain its upward momentum, and excessive optimism among investors could be a reason for the latest drop. This chart shows data related to funding rates. Positive values support an uptrend, while negative values indicate a downtrend, often reflecting market fear and concern.</p> 
<p class="p2" style="text-align: justify">As seen in the chart, funding rates have been extremely high lately. This could have led to an extended liquidation process, causing the drop below the $4,000 level. As long as funding rates remain high and thus the futures market is overheated, a sustainable rally is unlikely.</p> 
<p class="p2" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-336531 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/eth-veri.png" alt="" width="1827" height="1170"></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/ethereum-price-analysis-and-market-outlook-2/" data-wpel-link="internal">Ethereum Price Analysis and Market Outlook</a></h5>

Ethereum Price Analysis and Market Outlook

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