Bitcoin (BTC), which has made a splash with the ETF news, continues to carry Ethereum (ETH) to the resistance level, what can happen to altcoins from now on?
BlackRock’s BTC ETF application has been the lifeblood of cryptocurrencies that have been withdrawn due to the turmoil and negative news flow in the industry. BTC and ETH, which are trading below the support price, have created a positive atmosphere in the crypto atmosphere by jumping above these values. With the weakness in BTC, the altcoins, which lost value greatly, came to life with the support of the ETF. What can be waiting for Ethereum (ETH) next?
Ethereum (ETH) Chart Analysis
ETH, which managed to maintain its price structure after the Shapella update, started to lose value due to regulatory pressures. ETH, which has not been able to make a higher peak since 1915 dollars, turned its direction upwards, finding strength with the news of the ETF in BTC. Potential selling points for ETH, which rose with a reaction from $ 1620, are $ 1684 – 1777 – 1844 and 1915, respectively.
In the scenario where regulatory sanctions continue and BTC remains at 25,250, a test for ETH to $1588 and $1532 supports could be made. When we consider the current state of the market, the importance of news flow becomes more evident. Therefore, a close follow-up of fundamental analysis for price movements in major coins can provide positive data.
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