Ethereum

Bitcoin

The post <a href="https://coinpedia.org/price-analysis/eth-price-survival-above-3k-under-question-bulls-face-heat/">ETH Price Survival Above $3K Under Question, Bulls Face Heat?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With an overnight fall in the crypto market, the altcoins took a huge hit and promptly halted the recovery rally. Amidst the crash, the biggest altcoin, <a href="https://markets.coinpedia.org/ethereum/">Ethereum</a>, dropped overnight as the ETH price declined 2.50%.&nbsp; 
As the recent hiccup coupled with the broader market fear of an intense correction, warns of a drop to $3000. However, the long-term price trend and the history of <a href="https://coinpedia.org/price-analysis/bitcoin-halving-event-completed-heres-what-to-expect-next-for-crypto-market/">Bitcoin Halving</a> bringing an altcoin season teases a potential bull run.&nbsp; 
Check our <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/">ETH price prediction </a>to learn more about Ethereum’s coming range. 
<h2 class="wp-block-heading" id="h-final-nail-or-the-last-pullback">Final Nail Or The Last Pullback?</h2> 
With a market cap of $382 Billion, Ethereum has declined over the past few weeks, accounting for an 18% drop. However, the ETH price fall takes support at the 50% Fibonacci level at $2850. 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/04/25150653/image-826.png" alt="" class="wp-image-294493" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/25150653/image-826.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/04/25150653/image-826-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/25150653/image-826-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/25150653/image-826-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/25150653/image-826-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/25150653/image-826-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<a href="https://www.tradingview.com/x/7xr6EW2Z/">TradingView</a> 
The recent correction prolongs the consolidation in the weekly chart between the 50% and 61.80% Fibonacci levels. However, the lower price rejection from 50% Fib level leading to the sustenance above $3000 teases a bullish break.&nbsp; 
Currently, the ETH price trades at $3140 with an intraday Doji candle reflecting an indecision in the altcoin. Considering the market avoids any further dip, Ethereum could find an opportunity to restart the uptrend.&nbsp; 
Read Also : <a href="https://coinpedia.org/price-analysis/ethereum-sees-decline-in-whale-interest-amid-rising-bearish-threats-whats-next-for-eth-price/">Ethereum Sees Decline In Whale Interest Amid Rising Bearish Threats: What’s Next For ETH Price?</a> 
Technical indicators: 
MACD: The bearish crossover in the MACD and signal lines in the weekly chart results from the recent pullback phase. However, a bounce back from the 50% Fib level in ETH price could restart the positive trajectory.&nbsp; 
DMI: The ADX line witnesses a downtick, reflecting a loss in trend momentum. Further, the VI lines are preparing for a bearish cross due to the pullback phase.&nbsp; 
<h2 class="wp-block-heading" id="will-eth-price-challenge-to-4-000">Will ETH Price Challenge To $4,000?</h2> 
Considering the bull run revives for the biggest altcoin, ETH price could break the overhead resistance of $3265 and signal a breakout entry opportunity. The bull run might challenge the solid resistance of $4000, resulting in a 25% rise.&nbsp; 
Conversely, the chances of a drop to $3,000 are minimal but concernable.&nbsp;

ETH Price Survival Above $3K Under Question, Bulls Face Heat?

Table of Contents

CoinPedia News

Other articles published on Apr 25, 2024

Consensys Sues SEC To Protect Ethereum, Claims ETH Not A Security

BlockDAG’s Moonshot Teaser Leads $20M Presale, Outshining XRP Bull Run and Chainlink (LINK) Price...

Next Wave of Crypto Millionaires: 5 Altcoins to Watch

Bitcoin (BTC) Bulls ‘Under Threat’ as Downtrend Pattern Continues to Form: Expect a ‘High Probabi...

Ethereum Ecosystem Hits 10 Million Active Wallets Weekly: Will It 10X In The Next Bull Run?

Stripe reintroduces crypto as a payments option

Join our free newsletter for daily crypto updates!