Ethereum

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-experiences-recent-fluctuations/" data-wpel-link="internal">Ethereum Price Experiences Recent Fluctuations</a> 
Ethereum‘s recent price fluctuations have created an exciting atmosphere in the <a href="https://en.coin-turk.com/what-is-a-crypto-wallet/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a>. However, recent correction movements have caught <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>‘ attention. After testing $3,040 recently, Ethereum started to correct its gains. Currently, it is testing the critical support at $2,925 and is being closely watched for <a href="https://newslinker.co/" data-wpel-link="exclude">future</a> movements. 
<h2 style="text-align: justify" id="ethereum-price-slips-southward">Ethereum Price Slips Southward</h2> 
After the bears defended $3,040, a downward correction movement began in Ethereum’s price. Notably, the price trading below $2,960 has raised some concerns in the market. The hourly chart of the ETH/USD pair also highlights a downtrend line forming with resistance at $2,965. Therefore, Ethereum’s short-term performance seems dependent on overcoming these resistance levels. 
In the short term, important levels for Ethereum include the $2,960 resistance and the main resistance at $3,000. If the price surpasses these resistance levels, the next target could be the $3,050 level. From this point, Ethereum is predicted to catch an upward trend towards the $3,150 levels. However, in a potential downside scenario, a sustained close below the $2,925 support level could indicate further price declines. 
<h2 style="text-align: justify" id="downward-movement-in-eth-could-bring-2-700-into-focus">Downward Movement in ETH Could Bring $2,700 Into Focus</h2> 
ETH may experience more losses if it fails to break the $2,965 resistance recently. If it cannot surpass the trend line, it may continue its downward movement. In this case, the first support point will be around $2,925. Subsequently, the $2,900 region gains importance. If the price falls below this support level, a clear decline may be observed, and the price could retreat towards $2,850. Worse still, the price has the potential to decline to $2,740 in the near term. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-352341 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ethereum-3.png" alt="" width="1815" height="798"> 
Looking at technical indicators, the four-hour MACD is losing momentum in the bearish zone for ETH/USD. Similarly, the four-hour RSI is currently below the 50 level. These indicators show that the current situation is not very bright. 
The $2.925 support level stands out as a point to be closely monitored. If the price falls below this level, we may face more selling pressure. On the other hand, if the main resistance level at $2,965 can be broken, some hope may arise for ETH. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-experiences-recent-fluctuations/" data-wpel-link="internal">Ethereum Price Experiences Recent Fluctuations</a></h5>

Ethereum Price Experiences Recent Fluctuations

Table of Contents

COINTURK NEWS

Other articles published on May 17, 2024

Why Bitcoin ($BTC) Investors Are Buying PawFury ($PAW)

zkSync Announces Final Protocol Upgrade Ahead of Token Launch

TOP 3 Meme Coins To Explode: 1000% Potential This May

Crypto Biz: Galaxy, CoinShares Q1 results, ETFs on the blockchain, and more

Injective And Shiba Inu Investors Go All In On New Profit Opportunity; Rebel Satoshi ($RECQ) Show...

Analytics Company Announces Solana (SOL) Price Prediction for the End of May

Join our free newsletter for daily crypto updates!