Ethereum

2024

United

<p>The post <a href="https://coinpedia.org/news/ethereum-approaches-make-or-break-level-heres-what-next-for-eth-price/">Ethereum Price Slips: Will THIS Key Level Spark a Rebound?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ethereum (ETH) is currently <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">trading at $3,297</a>, marking a 4.29% decline in the past 24 hours and a 2.15% drop over the last seven days. Despite these short-term decreases, Ethereum still holds a strong market cap of $396.33 billion and has a substantial trading volume of $13.63 billion.&nbsp;</p> 
<p>What next? </p> 
<h2 class="wp-block-heading" id="h-seeking-signs-of-recovery">Seeking Signs of Recovery</h2> 
<p>Many analysts are closely monitoring ETH’s price trajectory, searching for signs of a potential recovery. The key question is whether Ethereum can hold or break its crucial support levels.</p> 
<p>Since March 27, Ethereum has experienced a steady decline, marked by a series of lower highs and lower lows. This persistent downtrend has investors and analysts alike looking for indicators of a possible rebound. The critical level to watch is the 0.786 Fibonacci retracement, which coincides with a significant order block.</p> 
<h2 class="wp-block-heading" id="h-critical-support-zone-the-0-786-fibonacci-retracement">Critical Support Zone: The 0.786 Fibonacci Retracement</h2> 
<p>Ethereum (ETH) has been <a href="https://coinpedia.org/news/ethereum-price-repeats-bearish-setup-solanas-structure-turns-bullish/" target="_blank" rel="noreferrer noopener">experiencing a steady decline</a> since March 27, characterized by a series of lower highs and lower lows. This continued decline has left many investors and analysts searching for signs of a potential recovery. However, the key level to watch for a possible bounce is at the 0.786 Fibonacci retracement, which coincides with a significant order block.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> has been in a downtrend since March 27, forming lower highs and lower lows. The key support level to watch for a potential bounce is at the 0.786 fibonacci retracement, which aligns with an order block. To confirm a reversal and bullish momentum, we need to see a shift in… <a href="https://t.co/yPhtu0F8WZ">pic.twitter.com/yPhtu0F8WZ</a></p>— Bitcoinsensus (@Bitcoinsensus) <a href="https://twitter.com/Bitcoinsensus/status/1808430460110053573?ref_src=twsrc%5Etfw">July 3, 2024</a>
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<p>As Ethereum continues its fall, the 0.786 Fibonacci retracement level has emerged as a critical support zone. This level, which aligns with an important order block, could provide the necessary foundation for a potential reversal.</p> 
<h2 class="wp-block-heading" id="h-what-needs-to-happen-for-a-bullish-reversal"><strong>What Needs to Happen for a Bullish Reversal?</strong></h2> 
<p>For Ethereum to shift from its bearish trend to a bullish one, a change in the lower timeframe market structure is essential. Specifically, analysts are looking for the formation of higher lows and higher highs. This pattern would indicate a shift in momentum and could pave the way for a sustained upward move.</p> 
<p>Meanwhile, if Ethereum manages to hold at the key support level and shift its market structure, it could mark the beginning of a new bullish phase. This would be a positive signal for traders and investors, potentially leading to increased buying activity and a rise in ETH’s price.</p> 
<h2 class="wp-block-heading" id="h-eth-to-outperform-bitcoin">ETH to Outperform Bitcoin?</h2> 
<p>The launch of spot <a href="https://coinpedia.org/news/is-altcoin-season-on-the-horizon-heres-what-analyst-weighs-in/" target="_blank" rel="noreferrer noopener">Ether exchange-traded funds (ETFs)</a> in the United States could see Ethereum outperform Bitcoin in the coming weeks. Bitcoin is expected to face selling pressure as $8.5 billion worth of Bitcoin is returned to creditors of the collapsed exchange Mt. Gox.</p> 
<p>For the past 12 months, ETH’s value has been steadily declining compared to Bitcoin, hitting a yearly low of 0.045 on May 24.</p> 
<p>However, the price of Ether relative to Bitcoin quickly reversed following the SEC’s unexpected approval of Ether ETFs. This surprise decision by the SEC caused ETH/BTC to increase to its current value of 0.055.</p> 
<p>Read Also: <a href="https://coinpedia.org/news/altcoins-to-watch-potential-wealth-builders-for-july-2024/" target="_blank" rel="noreferrer noopener">Altcoins to Watch: Potential Wealth-Builders for July 2024</a></p> 
<p><strong>Is Ethereum a buy, sell, or hold right now? Share your investment strategy!</strong></p>

Ethereum Price Slips: Will THIS Key Level Spark a Rebound?

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