Bitcoin‘In (B T c) It came down to around $2000 with withdrawals in the $35,500 band. Ethereum ,ETH) What kind of path can it draw?
BTC drops to $35,500 after fake news about ETF. The leader of the cryptocurrencies, which has been rising rapidly for several days, has naturally affected the altcoins with this sharp decline. Especially the fact that ETH reached a key level 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 procedure under $2000 is dangerous!
We have seen good performance in altcoins for quite some time now mainly due to the growth of BTC and the stable and reliable price of ETH. However, the altcoin leader could generate selling pressure at any time if it remains below $2000. In such a situation, we may see a gradual decline in the market. The support levels that can be adopted in case of a pullback of ETH are $1915 and $1836 respectively. If $1836 cannot be held, a move to the monthly opening price is possible.
Situations like BTC moving towards $37,500 or ETH staying above $2020 will whet the appetite of buyers. In such a situation, the levels of 2056 – 2130 – 2160 – 2203 and 2300 dollars can be targeted respectively. However, in a potential uptrend, fundamental analysis will have as much importance as technical analysis. A move towards $2300 may require a lot of positive news.