Continued weekend sales in Bitcoin (BTC) could bring Ethereum (ETH) to a significant support level.
Hanging below $29,000, BTC dragged the crypto market down. ETH, the leader of altcoins, which went down from $2,022, tested its weekly and monthly opening price. If the selling pressure continues in ETH, which finds support at this level, days later, there may be a decrease to $ 1,774 again.
Ethereum (ETH) Chart Analysis
ETH, which caught great activity before the Shapella update, exceeded $ 2,100. ETH, which went into a downward trend with the shaking of BTC, faced selling pressure at $ 2,022. Currently, ETH, which is very close to the weekly and monthly opening price, can loosen up to $ 1.774 if it breaks these values. The $1,774 level, which has acted as a strong support in recent weeks, can be called the critical support of ETH.
ETH, which is one of the main criteria for altcoins to gain value, can be followed by exceeding the resistances of 1.930 – 1.942 – 2.022 and 2.130 dollars, respectively, in order to continue its rise. In this process, the news flow of the crypto market will also be effective.
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