Will the Ethereum (ETH) Price Fall Below $4,000?

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The price fluctuation experienced today has also put the strong support of some crypto currencies at risk. Bitcoin (BTC) it loosened up to $58,000 in the day. Of course, this situation also negatively affected the altcoins. We have also recently experienced the $58,000 test shared by some analysts today. So can Ethereum (ETH) lose $4,000, which is the critical support zone? Technical data say that this is possible.

Will Ethereum (ETH) Fall More?

ETH, Bitcoin (BTC), which fell 10% to $4,100 after an ongoing market correction under his leadership. Who saves part of the damage ETH at the time of writing, it is receiving more than $4,300. The correction that happened today Ethereum it means more to you. The price, which fell below the rising trend line formed in the fourth quarter, says that more is possible.

Who conducted the EMA-50 test ETH it has remained strong for now. But if the pressure continues, we may witness a failed $3,700 test. The given ascending trend line comes as part of the ascending wedge, a technical pattern that many analysts consider a downward turn signal. It occurs when the price fluctuates within a december defined by two trend lines approaching each other. You can see this model in the chart below.

ETH falls below the lower trend line, and the wedge on the chart will break if the volume supports it. In this scenario, we may encounter a price below $3,000.

A Positive Scenario For Ethereum

In the other scenario, the chart creates a rising triangle, in which case the price may reach up to $ 6,500 by the end of 2021.

ETH price the recent pullback may be a little tiring, as it has reached the triangle resistance (also the lower trend line of the rising wedge) below the 4,000 dollar. But it is also possible that he will realize the good scenario by getting a reaction from this region. Short-term investors should in any case closely monitor the 4.200 and 4.000 dollar zones. Depending on Bitcoin price movements ETH price it will maintain its volatility. For the past 6 hours, BTC has been striving to maintain the critical zone of 60.000. Ethereum (ETH) it loosened up to $4,100 during the day, but reached $4,300 again, in line with Bitcoin.

Disclaimer Of Liability: The information contained in this article absolutely does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and they should conduct their transactions in accordance with their own research.
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