Ethereum

Token

Convergence

Billion

Divergence

The post <a href="https://coinpedia.org/price-analysis/is-this-ethereum-eth-price-final-correction-before-achieving-4k-mark/">Is This Ethereum (ETH) Price Final Correction Before Achieving $4K Mark?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The cryptocurrency market has corrected 1.51% within the past day, indicating reduced bullish influence in the crypto space. Moreover, top tokens have displayed a consolidated price movement over the past few days, suggesting a weak price action for these altcoins during the upcoming days. 
Furthermore, post-approval of the Ethereum ETF, the <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">ETH coin price</a> traded under a strong bullish sentiment for a brief period. However, since the week’s start Ethereum (ETH) price has displayed a high possibility of a bearish reversal in its price chart. 
<h2 class="wp-block-heading" id="h-eth-token-hints-a-bearish-reversal">ETH Token Hints A Bearish Reversal!</h2> 
Following the cross-border market correction on Wednesday, the altcoin leader, ETH price, has recorded a correction of 2.58% with a drop of 11.28% in its trading volume to $16.596 Billion within the past day. 
Moreover, the <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">Ethereum token</a> has added less than 0.10% over the past seven days, indicating weak buying and selling pressure for the crypto token. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="539" src="https://image.coinpedia.org/wp-content/uploads/2024/05/30140837/ETH-1024x539.png" alt="ETH" class="wp-image-310301" srcset="https://image.coinpedia.org/wp-content/uploads/2024/05/30140837/ETH-1024x539.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/05/30140837/ETH-300x158.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/05/30140837/ETH-768x404.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/05/30140837/ETH-150x79.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/05/30140837/ETH.png 1438w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 TradingView: ETH/USDT
 </figcaption>
</figure> 
The ETH coin price continues to hover close to its important support level of $3,730, indicating a cool-off in the price action. Moreover, the SMA indicator shows a bearish crossover in the 1D time frame, indicating an increase in the selling pressure within the crypto space. 
The Moving Average Convergence Divergence (MACD) displays a constant decline in the green histogram. Further, the averages record a high possibility of a bearish convergence, suggesting a weak price action for the altcoin leader in the market. 
<h2 class="wp-block-heading" id="h-will-eth-price-reclaim-4k-this-june">Will ETH Price Reclaim 4K This June?</h2> 
Suppose the market holds the price above the support level of $3,730. In that case, the bulls will regain momentum and the Ethereum token will prepare to retest its important resistance level of $4,095 during the upcoming weeks. 
Conversely, if the bears overpowered the bulls, the ETH coin price would break down its support level of $3,730 and plunge toward its lower support level of $3,400 in the coming time. 
Also Check Out : <a href="https://coinpedia.org/price-analysis/altcoins-stumble-amid-bearish-action-ondo-and-ftm-price-poised-for-a-10-pullback/">Altcoins Stumble Amid Bearish Action! ONDO and FTM Price Poised For a 10% Pullback?</a>

Is This Ethereum (ETH) Price Final Correction Before Achieving $4K Mark?

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