Ethereum

Bitcoin

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-gains-strength-after-larger-market-structure/" data-wpel-link="internal">Ethereum Gains Strength After Larger Market Structure</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/crypto-investors-face-increasing-losses-as-negative-trends-continue-in-altcoins/" data-wpel-link="internal">Ethereum</a> (ETH)</strong> price started gaining strength after a larger market structure. Investors are closely monitoring the Ethereum price. Additionally, as BTC price tries to break its previous all-time high, Bitcoin adoption continues to increase.</p> 
<h2 style="text-align: left" id="what-are-the-expectations-for-ethereum">What Are the Expectations for Ethereum?</h2> 
<p style="text-align: justify">ETH price is trading at $3,811 with a 1.3% drop in the last 24 hours and a 1.4% increase over 7 days. <strong>Ethereum</strong> price has been stuck in the current consolidation zone for the past eight days. However, this formation is part of a previously formed bull flag, which could yield significant profit if broken.</p> 
<p style="text-align: justify">According to experts, Ethereum price trading above the 50-day and 200-day simple moving averages (SMA) signals a bullish trend among <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. Additionally, ETH price action is moving towards an ascending channel, which could indicate a short accumulation phase before a breakout. The extension of the channel could suggest that ETH price might attempt a breakout in about 4 days if all factors remain constant. However, fundamental indicators could either strengthen or weaken the current Ethereum market structure.</p> 
<p style="text-align: justify">Additionally, <strong>Bitcoin</strong> price also carries a bull flag but on a 4-hour timeframe. Moreover, the price is trading above the 50-day and 200-day SMA, which is a bullish signal for BTC. BTC price is currently on its way to test the upper boundary of the range. If it manages to break through, a $74,000 <strong>Bitcoin</strong> price could be seen in the coming days. The cryptocurrency might face some resistance at $72,300, but if the bulls are strong enough, they could easily overcome this barrier.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-360249 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-7.jpg" alt="" width="906" height="402"></p> 
<h2 style="text-align: left" id="bitcoin-and-ethereum-consolidation">Bitcoin and Ethereum Consolidation</h2> 
<p style="text-align: justify">On the other hand, there is strong support around $67,000 that could support the price. Ethereum price surged from $2,800 to $3,900 in a single candle and is currently holding well between $3,700 and $3,800. All these developments occurred before the approval of S-1 filings and the launch of an ETF. As Bitcoin gradually recovers, the ETF price holds the key to significant gains after $4,000 with the ETF launch. The market eagerly awaits S-1 clarity as the 10-day period for ETF cancellation has expired. Bitcoin’s open positions reached a new peak at 520,000 BTC, surpassing the all-time high of March. Additionally, Bitcoin ETFs are developing with an inflow of $488.1 million.</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-gains-strength-after-larger-market-structure/" data-wpel-link="internal">Ethereum Gains Strength After Larger Market Structure</a></h5>

Ethereum Gains Strength After Larger Market Structure

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