What path can Ethereum (ETH), which has weakened to around $2000 as Bitcoin (BTC) retreated to the $35,500 range, chart?
BTC, which fell after the fake news about ETFs, was at $ 35,500. The leader of cryptocurrencies, which has been rising breathlessly for days, naturally affected altcoins with this sharp decline. Especially the fact that ETH reached a critical level both psychologically and technically confused investors.
Can ETH, which has fallen below $2000 with the recent price movement in BTC, rise above this level again?
Any process below $2000 is dangerous!
The main reason why we have seen good performance in altcoins for a while is the rise of BTC and the stable and reliable price of ETH. However, the altcoin leader may trigger selling pressure at any time while it remains below $2000. In such a scenario, we may observe a chain decline in the market. The support levels that can be followed in case of a withdrawal of ETH are $1915 and $1836 respectively. If $1836 cannot hold, a move to the monthly opening price is possible.
Situations such as BTC heading towards $37,500 or ETH staying above $2020 will increase buyers’ appetite. In such a scenario, the levels of 2056 – 2130 – 2160 – 2203 and 2300 dollars can be targeted, respectively. However, in a possible upward trend, fundamental analysis will have a say as much as technical analysis. Very positive news may be needed for a move to $2300.
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