Ethereum

Bitcoin

<p class="p1" style="text-align: justify">The cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a> experienced a decline following the opening of Wall Street. At the time of writing, <a href="https://en.coin-turk.com/bitcoins-future-what-do-crypto-experts-predict-for-btc/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, which is trading at $34,229, experienced a 1.05% decrease in the last 24 hours, causing a ripple effect in the altcoin market. So, what is happening with the altcoin king Ethereum? Let’s examine it together with chart analysis and important levels.</p>
<h2 class="p1" style="text-align: justify" id="ethereum-chart-analysis">Ethereum Chart Analysis</h2>
<p class="p1" style="text-align: justify">The first notable formation on the daily chart of Ethereum is an ascending structure. Ethereum started its rise without touching the support line in the recent uptrend and encountered a significant resistance at the EMA 200 level (red level), but this level acted as support in the last daily candle.</p>
<p class="p1" style="text-align: justify">The most important support levels to be observed on the daily chart of Ethereum are respectively $1,758, $1,694, and $1,661. Especially, if the daily candle closes below the $1,758 level, it would weaken the short-term upward momentum and cause the price to fall below the EMA 200 average again.</p>
<p class="p1" style="text-align: justify">The most important resistance levels to be monitored on the daily chart of Ethereum are respectively $1,857, $2,038, and $2,158. The fact that the $1,857 resistance level has been tested twice in the recent uptrend indicates its strength in the short term. However, a daily candle closing above the $1,857 level will accelerate the ETH uptrend.</p>
<p><img decoding="async" class="aligncenter wp-image-271838 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/eth-grafik-1.png" alt="" width="2180" height="1005"></p>
<h2 class="p1" style="text-align: justify" id="eth-btc-chart-analysis">ETH/BTC Chart Analysis</h2>
<p class="p1" style="text-align: justify">The breakdown of support in the descending channel formation that has been in effect for a long time in the ETH/<a href="https://en.coin-turk.com/bitcoins-quietness-before-the-storm-data-says-the-sleeping-giant-will-wake-up/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> pair intensified the decline in this pair. The main reason for such a situation in a rising market is that the price of Bitcoin has been rising faster than the price of Ethereum. The support level that has been working in the ETH/BTC pair recently gives hope for the Ethereum price.</p>
<p class="p1" style="text-align: justify">The most important support levels to be observed in the ETH/BTC pair are respectively 0.05179, 0.05088, and 0.04992. Especially, if a daily candle closes below the significant 0.05179 level, Ethereum will lose more strength against Bitcoin.</p>
<p class="p1" style="text-align: justify">The most important resistance levels to be monitored in the ETH/BTC pair are respectively 0.05385, 0.05563, and 0.05692. In the short term, a bar closing above the 0.05563 level will first enable the breach of the EMA 7 (blue line) level.</p>
<p><img decoding="async" class="aligncenter wp-image-271839 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/ethbtc-grafigi.png" alt="" width="2421" height="1100"></p> Continue Reading: <a href="https://en.coin-turk.com/warning-these-3-altcoins-are-facing-major-selling-pressure-after-wall-street-opening/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/warning-these-3-altcoins-are-facing-major-selling-pressure-after-wall-street-opening/</a>

Warning: These 3 Altcoins Are Facing Major Selling Pressure After Wall Street Opening

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