Ethereum

Flow

Cryptocurrency

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-fluctuations-stir-market-concerns/" data-wpel-link="internal">Ethereum Price Fluctuations Stir Market Concerns</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/cryptocurrencies-on-the-rise/" data-wpel-link="internal">Cryptocurrency</a></strong> market experienced an intense week with fluctuations in Ethereum’s price. Ethereum successfully exceeded the critical $3,200 resistance level. Currently, ETH is trading at $3,245. Could the price of Ethereum reach the $2,700 support level in the coming days? Or could the cryptocurrency ETH price once again surpass $3,500?</p> 
<h2 style="text-align: justify" id="ethereum-price-drop-trend-alarms-investors">Ethereum Price Drop Trend Alarms Investors</h2> 
<p style="text-align: justify">In the cryptocurrency world, the king of <a href="https://coin-turk.com/augur-oyuna-geldi" data-wpel-link="internal">altcoins</a>, <strong>Ethereum</strong>, has shown a downtrend due to a mix of factors. Initially, the cryptocurrency ETH’s price saw a 2% increase, but this upward trend was not sustainable. The decline in the last 24 hours followed by a slight recovery has led to confusion among investors.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-345378 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ethereum-coin-turk-com-1-6.png" alt="" width="1910" height="707"></p> 
<p style="text-align: justify">According to Santiment’s data, this volatility in Ethereum’s price, despite most investors still being in profit, has negatively impacted its social volume. Additionally, a downward sentiment in the charts suggests that the price could retract further. At this point, the forecast by crypto analyst <a href="https://en.coin-turk.com/artificial-intelligence-coins-could-shine-in-2024/" data-wpel-link="internal">Crypto</a> Tony of a $2,700 support level comes into play. If Ethereum drops to this level, it could worsen and reaching the $3,600 resistance level might become more challenging.</p> 
<h2 style="text-align: justify" id="santiment-data-indicates-increased-selling-pressure-on-ethereum">Santiment Data Indicates Increased Selling Pressure on Ethereum</h2> 
<p style="text-align: justify">Looking at the analysis based on Santiment data, it appears that the selling pressure on the cryptocurrency Ethereum has increased. The increase in exchanges over the past week indicates that this selling pressure has strengthened. However, it is also noted that whales still trust Ethereum, and the supply held by top addresses has increased.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-345383 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/eth-coin-turk-com-2-1.png" alt="" width="1919" height="739"></p> 
<p style="text-align: justify">Upon examining the daily chart, the Money Flow Index is seen moving northward. However, other indicators are showing a downward trend. The Relative Strength Index and Chaikin Money Flow indicate a high likelihood of a price drop.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-345380 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/eth-coin-turk-com-1-1.png" alt="" width="1585" height="846"></p> 
<p style="text-align: justify">At this stage, the $2,700 support level for the cryptocurrency Ethereum is of critical importance. If it falls below this level, it is predicted that Ethereum will drop further and could go down to $2,500. However, it is important to remember that there are always uncertainties in the market. Although Ethereum’s price occasionally moves independently from the cryptocurrency <a href="https://coin-turk.com/bir-bitcoin-btc-borsasi-daha-mi-hacklendi-hedef-ceo-yanitladi" data-wpel-link="internal">Bitcoin</a>, a decline in <a href="https://en.coin-turk.com/spot-bitcoin-etfs-attract-major-institutional-investors/" data-wpel-link="internal">BTC</a> could significantly affect Ethereum, the leader of the <strong>altcoins</strong>.</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-fluctuations-stir-market-concerns/" data-wpel-link="internal">Ethereum Price Fluctuations Stir Market Concerns</a></h5>

Ethereum Price Fluctuations Stir Market Concerns

Table of Contents

COINTURK NEWS

Other articles published on Apr 27, 2024

Bitcoin Crackdown Continues in the US: Another BTC Wallet Being Removed

Top Cryptos to Finally Buy Your Dream Car in 2024!

Bitcoin to Lead Post-Halving Surge: These Altcoins May Ride the Wave, Too!

BEFE Coin’s $0.01 Potential: What’s Fueling the Anticipation

Republic First Bank collapses, seized by U.S. government

Top Meme-Coins For 10X Profits In May!

Join our free newsletter for daily crypto updates!