The declines in the leading cryptocurrency Bitcoin (BTC) are also reflected in the price of Ethereum (ETH) and other altcoins.
Ether, which has suffered from the decline in the price of Bitcoin, continues to trade below $ 3,000, but is trying to combat the downward price pressure experienced in BTC.
Popular analyst making evaluations about the direction of Ethereum price Rekt Capital In a post on his Twitter account of ETH He said that he could come back to the $ 3000 level.
“ETH could very well continue to retest $3000. However, high volatility could create a negative situation for ETH, bringing it down to $2600.
ETH could wick towards its lowest price level ($2600) before finally closing a monthly candle close above $3000.
The popular analyst also added Ethereum in the graph of ETH He noted that the ascending triangle top has turned and is now proving to act as a new resistance level.
“As a result, Ethereum was rejected at the top of the ascending triangle and is currently forming red candles.
If ETH fails to hold the red boxed area as support, it may revisit the blue level below (i.e. $2600).”
CoinMarketCap According to the data of the data, it has experienced a decrease of 2.65% in the last week and 2.62 in the last 24 hours. Ethereum It continues to trade at $ 2,860.