ETH Weekly Chart:
Since ETH hit $4,000 in March 2024, we have witnessed a 30% decline in price. According to this weekly chart, the current price position ($2,900) should possibly hold for the time being, but eventually, the blue box seems to be a strong support zone for ETH.
I assume $2,500 as strong support for ETH, and in the worst case, $2,000. After we reach either of these ranges, we are likely to see a good rally in ETH.
As I mentioned earlier, the approval or disapproval of the Spot Ethereum ETF will play an important role in ETH price action.
DYOR, NFA.
https://x.com/Cryptorphic1/status/1790611656810307623
#cryptocoin #ETHUSD
Since ETH hit $4,000 in March 2024, we have witnessed a 30% decline in price. According to this weekly chart, the current price position ($2,900) should possibly hold for the time being, but eventually, the blue box seems to be a strong support zone for ETH.
I assume $2,500 as strong support for ETH, and in the worst case, $2,000. After we reach either of these ranges, we are likely to see a good rally in ETH.
As I mentioned earlier, the approval or disapproval of the Spot Ethereum ETF will play an important role in ETH price action.
DYOR, NFA.
https://x.com/Cryptorphic1/status/1790611656810307623
#cryptocoin #ETHUSD