Ethereum

Green

<p>Ethereum has experienced a rollercoaster ride recently. After a precipitous drop, the second-most important cryptocurrency managed to regain its footing and recover some ground. However, the path to stability is not yet certain. Let’s take a closer look at this turbulent trajectory.</p>
<h2 id="h-ethereum-back-in-the-green-after-a-significant-drop">Ethereum Back in the Green After a Significant Drop!</h2>
<p>The price of Ethereum recently underwent a sharp decline, falling by over 10% to reach a low around $2,852. Nonetheless, buyers quickly emerged, enabling ETH to recover above the symbolic $3,000 mark. However, this rebound was not smooth sailing, as ETH had to contend with several resistances around $3,200.</p>
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<p>Despite these hurdles, a bullish channel has formed on the 4-hour ETH/USD chart, hinting at additional upside potential. The first major resistance is situated around $3,250, followed by a key level at $3,300. If ETH can break through these thresholds, it could then target $3,360 and, venture towards $3,500 and $3,620. A scenario that, if realized, would allow the second-largest crypto to reconnect with its highs.</p>
<h2 id="h-critical-levels-to-watch">Critical Levels to Watch</h2>
<p>Although momentum is positive, Ethereum has not completely escaped danger. Indeed, the price must remain above the <a href="https://coinmarketcap.com/fr/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">crucial support of $3,000</a> to prevent a new bearish wave. Otherwise, a dip below this threshold could pave the way for a fall to $2,880 and then $2,750. A scenario investors hope to avoid at all costs.</p>
<p>Examining the technical indicators, we notice that the hourly MACD for the ETH/USD pair is gradually losing strength, entering a bearish zone, a sign that bullish momentum is somewhat waning. However, the hourly RSI is currently maintaining above the 50 threshold, indicating a certain appetite from buyers.</p>
<p>Ethereum has gone through a tumultuous period in recent days, <a href="https://www.cointribune.com/en/will-bitcoin-continue-to-rise-or-fall/" target="_blank" rel="noopener noreferrer nofollow">suffering a significant drop</a> before regaining composure and starting a rebound. Although resistances persist, a bullish channel seems to be taking shape, suggesting significant upside potential for the crypto.</p>

Crypto – Ethereum Recovers After a Sharp Decline!

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Cointribune EN

Alte articole publicate pe 15 apr. 2024

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