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Will Ethereum Go Up? Price Bounces Off Lows, but Market Signals Remain Bearish
Although Ethereum’s price has been on a steady decline, the price is attempting a recovery but faces a possible price pullback at key price resistance levels. The market is now closely watching whether ETH can surge past $3,036, or if further downside is inevitable. At the time of publication, ETH was trading at $2,774, representing a 2% and 4% increase in the past day and week, respectively. With bearish signals mounting, the coming days could determine Ethereum’s next major move. Ethereum has been in a clear downtrend since mid-December, failing to sustain momentum above $4,000. The cryptocurrency remains under pressure, currently trading below the 50 and 200-day moving average. Interestingly, ETH experienced a sharp price decline on February 3, dropping as low as $2,160.Make Ethereum Great Again???!!!
Although Ethereum’s price has been on a steady decline, the price is attempting a recovery but faces a possible price pullback at key price resistance levels. The market is now closely watching whether ETH can surge past $3,036, or if further downside is inevitable.
At the time of publication, ETH was trading at $2,774, representing a 2% and 4% increase in the past day and week, respectively. With bearish signals mounting, the coming days could determine Ethereum’s next major move. Ethereum has been in a clear downtrend since mid-December, failing to sustain momentum above $4,000.
The cryptocurrency remains under pressure, currently trading below the 50 and 200-day moving average. Interestingly, ETH experienced a sharp price decline on February 3, dropping as low as $2,160.
Make Ethereum Great Again???!!!
