Ethereum

Rally

2024

<p>The post <a href="https://coinpedia.org/news/ethereum-holding-crucial-support-level-top-analyst-predicts-potential-breakout/" rel="noopener noreferrer nofollow">Ethereum Holding Crucial Support Level, Top Analyst Predicts Potential Breakout</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The crypto market’s attention has turned to the upcoming spot Ethereum ETFs, which is likely to be approved by July 4, and expected to attract up to $15 billion in initial investments. Ethereum has recently faced a sell-off after Bitcoin’s drop, but today it quickly bounced back today with <a href="https://markets.coinpedia.org/ethereum/" rel="noopener noreferrer nofollow">Ethereum surging by 3%</a> and trading at $3456.</p>
<p>Meanwhile, well-known crypto analyst Michael van de Pop pointed out an important technical detail about ETH, noting it has held a key support level well. This suggests potential upward movement for Ethereum and other altcoins.</p>
<h2 class="wp-block-heading" id="h-ethereum-holds-crucial-support">Ethereum Holds Crucial Support</h2>
<p>Michael van de Pop points out that Ethereum (ETH) has shown resilience by maintaining a critical support level amidst recent market volatility. This stability is seen as a positive signal by many traders and analysts, indicating a possible continuation of the uptrend in ETH’s price.</p>
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   <p lang="en" dir="ltr">From a technical standpoint, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> has been holding a crucial level for support.<br><br>I think we'll continue to grind upwards from here. <br><br>If it can get towards 0.06 BTC, then I'm assuming we'll see a big breakout &amp; <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Altcoin</a> strength for the remainder of the year. <a href="https://t.co/KnbN9Pngxe" rel="noopener noreferrer nofollow">pic.twitter.com/KnbN9Pngxe</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1806354299997335972?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 27, 2024</a>
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<p>He further speculated that if ETH manages to climb towards 0.06 BTC, a significant <a href="https://coinpedia.org/crypto-live-news/ethereum-records-a-56-spike-in-network-activity-potential-rally-ahead/" rel="noopener noreferrer nofollow">breakout could be imminent</a>. This potential breakout, he believes, could bolster altcoin strength throughout the remainder of the year.</p>
<p>Van de Pop’s analysis comes amidst fluctuating market conditions for cryptocurrencies, with Ethereum currently trading around key technical levels.</p>
<h2 class="wp-block-heading" id="h-ethereum-could-hit-major-rally">Ethereum Could Hit Major Rally</h2>
<p>Ethereum’s price is currently below the 50-day but above the 200-day simple moving average, showing a struggle between bearish and bullish forces. Adiitionally, the relative strength index (RSI) suggests continued bearish momentum, indicating the sell-off might not be over.&nbsp;</p>
<p>However, Ethereum recently dropped from its peak of nearly $4,000 have paved the way of ETH. If Ethereum falls below 3300, it could drop to $3,200 and further to $3,000.<br><br>On the flipside, the <a href="https://coinpedia.org/news/eth-etf-approval-expected-soon-could-steal-15-of-bitcoins-etf-investment/" rel="noopener noreferrer nofollow">launch of spot Ethereum ETFs</a> could shift market sentiment positively. If ETF inflows increase, Ethereum might rally to the $4,500 range, potentially surpassing $5,000.</p>

Ethereum Holding Crucial Support Level, Top Analyst Predicts Potential Breakout

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