The Ethereum price has been struggling to maintain its momentum in the face of market uncertainty. Despite reaching a new all-time high in terms of accumulation, the price of ETH has seen a significant drop of over 20%, sparking concerns among investors about its future prospects.
However, many investors view this downturn as a prime opportunity to invest in the largest altcoin by market cap. If you’re one of those considering diving into the world of Ethereum but are unsure about its future trajectory, read on to uncover some potential insights.
ETH Price Retests Its Important Support Trendline
In the past 24 hours, the price of Ethereum has experienced a slight 1% decrease, with a trading volume of $20.057 billion. While the altcoin has seen a 2.17% increase over the last week, it has dropped by 18.21% over the past month, with a year-to-date return of -20.52%.
The EMA 50/200-day is on the verge of a Death Cross in the daily timeframe, indicating a strong bearish sentiment surrounding the altcoin. Additionally, the MACD indicator shows a consistent red histogram, suggesting a rise in selling pressure over buying pressure for Ethereum in the near future.
Will ETH Price Ever Recover?
In the event of a bullish trend reversal, Ethereum’s price could retest its immediate resistance level of $2,870. Maintaining a price above this level may pave the way for the altcoin to target its upper price level of $3,300 in the near future.
Conversely, if bearish sentiment persists, the price of ETH could fall towards its immediate support level of $2,530. A further intensification of bearish sentiment could drive the price down to its crucial low of $2,175.
Curious about whether Ethereum will reach $5k this year? Check out our Ethereum Price Prediction for a deeper dive into the long-term possibilities.
FAQs
Why is ETH crashing?
Amid increased uncertainty in the cryptocurrency market, Ethereum’s price has seen a significant pullback in its valuation.
How much will 1 Ethereum be worth in 2025?
If bullish momentum returns, the price of ETH could potentially hit a new all-time high this year.
What will Ethereum be worth in 2030?
With sustained bullish momentum, Ethereum’s price could potentially surpass the $15,000 mark by 2030.
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