Plunge

Ethereum

Convergence

Divergence

<p>The post <a href="https://coinpedia.org/price-analysis/will-ethereum-eth-price-head-toward-4k-mark-or-plunge-to-3-4k-this-week/" rel="noopener noreferrer nofollow">Will Ethereum (ETH) Price Head Toward $4K Mark Or Plunge To $3.4K This Week?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The cryptocurrency market leader, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a>, failed to hold its price above the $70K mark and continues to display a weak price action. This resulted in top altcoins recording significant corrections in their respective portfolios over the past weekend.&nbsp;</p>
<p>On the other hand, the altcoin leader, the Ethereum token, has followed in the footsteps of the market leader and displayed a similar trend, indicating the increased bearish sentiment in the crypto space.</p>
<p>Amid increased price volatility in the crypto market, will <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noopener noreferrer nofollow">ETH price</a> record a bullish bounce back and head toward its target of $4,000 mark or plunge toward its lower support level of $3,400 this week?</p>
<h2 class="wp-block-heading" id="h-eth-token-records-increased-bearish-sentiment">ETH Token Records Increased Bearish Sentiment:</h2>
<p>The Ethereum coin price continues to display a weak price action by recording a correction of approximately 1% with a trading volume of +11.95% within the past day and has lost 3.68% over the past week, indicating a rising disinterest of investors in it.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeRAPKlafEq2jaYIni-OM5tvtBiyLhBFNlmMh5Uhh1zOjhA4NkjZ7S4PljStwzncKcnm5WA4u9qLrg41jhZpICQkSWB492eXx0-SAxQQSr_JgedHM0pR3s_GDvntJaJubGhEorz9Od_Jp29CMEktAjz79M?key=BlBcqbHq0lvGim2b4-xFxQ" alt="Ethereum Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: ETH/USDT
 </figcaption>
</figure>
<p>The ETH token had recorded a significant jump to its portfolio post approval of the Spot Ethereum ETF by the Securities and Exchange Commission (SEC). However, amid increased price volatility, the <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum price</a> hovered close to its important support level of $3,730 for about two weeks.</p>
<p>Following this, the bulls lost momentum, resulting in the Ethereum crypto breaking down its support level. This indicates an increase in the bearish sentiment.</p>
<h2 class="wp-block-heading" id="h-ethereum-market-sentiments">Ethereum Market Sentiments:</h2>
<p>The Cross EMA 50/200-day shows a decline in the rising pattern, indicating a strong possibility of a bearish reversal in the coming time.</p>
<p>The Moving Average Convergence Divergence (MACD) displays a constant rise in the red histogram, highlighting increased selling pressure for the altcoin in the crypto space. Furthermore, the averages show a bearish trend, suggesting a negative outlook for the Ethereum token this week.</p>
<h2 class="wp-block-heading" id="h-will-the-eth-price-go-up">Will The ETH Price Go Up?</h2>
<p>If the market pushes the ETH coin price above the resistance level of $3,730, the bulls will regain momentum and prepare to test its upper resistance level of $4,100 this month.</p>
<p>Conversely, if the bears overpowered the bulls, the price would lose momentum and test its support level of $3,400. Furthermore, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $3,000 during the coming time.</p>

Will Ethereum (ETH) Price Head Toward $4K Mark Or Plunge To $3.4K This Week?

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