What does Ethereum (ETH), which broke the support zone with Bitcoin remaining below $30,000, mean for altcoins?
The volatile price structure that started on the BTC side continues to destabilize altcoins. ETH, which was traded above $ 1,920 in the past days, was preparing the ground for the rise in altcoins more comfortably. However, it broke this support area and slackened to $1,889. How is the chart progressing in ETH, which is currently at an intermediate price?
Ethereum (ETH) Chart Evaluation
Neglecting the $1.919-1,912 region to the downside, ETH has not yet determined its course. Traded almost in the middle of the next support and resistance, the forerunner of altcoins could target $1,967 – 2,020 – $2,056 and $2,128 respectively as long as it can settle above $1,919. In this process, the activity of the ETH network and the sector-based news flow will be important.
Testing of the price structure at $1,843 could be a harbinger of rapid declines for ETH and altcoins in particular. Support points to follow on behalf of ETH are 1,843 – 1,777 – 1,716 and 1,633 dollars, respectively. $1,633, which is the main starting area of the rise, will determine the short-medium term fate of ETH and altcoins.
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