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Ethereum (ETH) price witnessed a fate similar to the rest of the crypto market when the altcoin slipped below $3,000. This, however, has only further validated the bullish pattern ETH has been stuck in.
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Ethereum (ETH) price is noting a sharp decline at the time of writing, but it is actually validating a bullish pattern.
Supported by the market conditions, the second biggest cryptocurrency on the planet has a shot at $4,000.
As the crypto market continues to navigate its intricate patterns, the rivalry between Ethereum (ETH) and Bitcoin (BTC) remains a focal point for traders and investors alike.
Recent analysis suggests a power struggle between Ethereum and Bitcoin in the coming month.
The Ethereum (ETH) price has recently found support at the 0.382 Fibonacci level, around $2,867, prompting a bullish rebound. This development raises the question: Could this mark the conclusion of the correction?
ETH has undergone a pronounced corrective phase over the past few weeks.
Ethereum’s (ETH) price has managed to sustain above the $3,000 line as support for nearly a week before recovering.
Now, with the help of investors’ resilience, the biggest altcoin in the world could further its recovery.
The Ethereum price is currently undergoing a notable corrective movement, having corrected to approximately $2,845 in recent days
A month ago, BeInCrypto suggested that significant support levels were around $3,215 at the 50-day EMA and between $3,107 and $3,215 at key Fibonacci levels.
Recently, crypto whales are aggressively accumulating Ethereum (ETH) despite the looming uncertainty of ETF approvals. On-chain analytical platforms Lookonchain and Spot On Chain have highlighted significant Ethereum acquisitions by prominent wallets.
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On-chain analytical platform Spot On Chain reveals that crypto whales have channeled $35.11 million in stablecoins into Ethereum (ETH), propelling its price past $3,400.
These crypto whales’ activities will potentially carve the path for Ethereum’s forthcoming price action.
Ethereum (ETH) price analysis hints at potential volatility before it tries to surpass the $4,000 mark again.
Despite being positioned between strong support and resistance levels, ETH may be bracing for a notable correction, potentially around 12.5%, soon.
Ethereum (ETH) price trades under two crucial support levels after noting consistent declines for the past week.
The bearishness, however, is expected to intensify in the coming days as ETH is witnessing a market top at the moment.
Considering the Pi Cycle Top Indicator, the ETH price analysis suggests that Ethereum could see more corrections before attempting to reach the $4,000 mark again.
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Ethereum (ETH) price bounced back this week from the lows of $3,100, reigniting hopes of new highs for the altcoin.
However, the inclination of ETH investors toward realizing profits might impede this process.
On-chain activity indicates a notable reaction to regulatory uncertainties surrounding the second-largest digital asset by market capitalization, Ethereum.
A significant spike was registered in the number of tokens sent to centralized crypto exchanges.