Ethereum

Plunge

Verge

<p>The post <a href="https://coinpedia.org/price-analysis/ethereum-price-prediction-eth-price-to-plunge-to-3-2k-this-crypto-market-crash/" rel="noopener noreferrer nofollow">Ethereum Price Prediction: ETH Price To Plunge To $3.2K This Crypto Market Crash?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>With a surge of 74.63% in its trading volume and a price correction of 3.56% within the past 24 hours, the Ethereum price has plunged below its important level of $3,500. Furthermore, with the rising bearish sentiment, the market sentiments hint at a further fall in its value.</p>
<p>Notably, the altcoin leader, <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noopener noreferrer nofollow">ETH Price</a>, has started this week on a bearish note by losing over 5% in valuation over the past 2 days. Moreover, the price continues its struggle to reclaim the $3,500 mark, indicating a negative influence in the crypto space.</p>
<p>With the ongoing cross-border market correction, will the Ethereum token make a comeback this week? Or will its price plunge toward its crucial support level of $3,200? Dive in as, in this article, we have covered the market sentiments and short-term price analysis of Ethereum crypto.</p>
<h2 class="wp-block-heading" id="h-eth-coin-price-on-the-verge-of-a-major-break-down">ETH Coin Price On The Verge Of A Major Break Down:</h2>
<p>After hovering close to its important support level of $3,700 for a brief period post Ethereum ETF approval by the SEC, the bulls failed to hold the value above its support level. This resulted in the <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum price</a> experiencing a breakdown in its price chart.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdmWj2u63vLRFav86NBTZgAR5N92Z61nrScCrC2djvTvTYjTmEskHxBM4gv9DI0wAkWwdU749df7TVycyRHz9x6Yqmeka5v7PpenR_z0100M_NmKWwqx3-lXVI-__2s65YtLcJREvqxfo0373gIgzgrXbYY?key=sotsMuzMUwjqjLQW0RnmfA" alt="Ethereum Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: ETH/USDT
 </figcaption>
</figure>
<p>Since the breakdown, the ETH token has been constantly trading in a closed range between $3,400 and $3,700, highlighting a weak price action for the altcoin in the crypto market.</p>
<p>Moreover, the altcoin leader has formed a symmetric triangle pattern in the 1D time frame and is on the verge of testing its support trendline, the outcome of which is uncertain.</p>
<h2 class="wp-block-heading" id="h-ethereum-market-sentiments">Ethereum Market Sentiments:</h2>
<p>The Simple Moving Average (SMA) displays a bearish crossover in the 1D time frame, suggesting a weak bullish sentiment in the crypto space.</p>
<p>The technical indicator, RSI, fails to gain momentum, resulting in it recording a bearish reversal above the mid-point. Furthermore, it is now headed toward its oversold range, highlighting an increase in the selling-over-buying pressure for the Ethereum token in the market.</p>
<h2 class="wp-block-heading" id="h-will-the-eth-price-go-up">Will The ETH Price Go Up?</h2>
<p>If the bulls hold the Ethereum crypto above the support trendline of the symmetric triangle pattern, it will test its resistance level of $3,730. Maintaining the value at that level will set the stage for the ETH coin price to attempt to test its upper resistance level of $4,094.75 this month.</p>
<h2 class="wp-block-heading" id="h-how-low-will-eth-go">How Low Will ETH Go?</h2>
<p>On the contrary, if the bears overpowered the bulls, the Ethereum price will continue trading under a negative influence, break down its support trendline, and test its support level of $3,400 this week.</p>
<p>Furthermore, if the bearish sentiment intensifies and the bears continue to dominate the market, the ETH token will plunge further and prepare to test its crucial support level of $3,000 during the coming time.</p>

Ethereum Price Prediction: ETH Price To Plunge To $3.2K This Crypto Market Crash?

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