The lateral trend now prevails in trading on Ethereum and the cryptocurrency market as a whole. Against the background of a collapse in the stock market, we can see some changes in the behavior of Bitcoin. The most popular digital currency is gradually moving away from the correlation of its exchange rate depending on traditional markets.
Experts are closely watching the price movement of Ethereum. They believe that a critical support level from Ethereum below $100 may play into the hands of the future. Some traders even speculate that Ethereum could grow over the next few weeks and trade for up to $140.
But do not discount the bearish decline that is now observed in the cryptocurrency market. ETH has been seen on a bearish depreciation of the digital currency. It is worth noting that a fall in the price of ETH can provoke a decrease in cryptocurrency, so all efforts are aimed at stabilizing Ethereum.
Ethereum holds at $ 115 as a result of changes in Bitcoin market behavior
Over the past few days, the price of the Ethereum has been steadily at $ 114. This is partly due to the market behavior of Bitcoin. After a sharp drop in prices to $ 4,600 on March 16, the most popular currency showed signs of a breakdown in correlation with traditional markets.
Analysts previously noted that Ethereum has resorted to a bearish price decline. Even though Ethereum is trying to stay above the key support at $ 115, there are signs of a possible price reduction.
Well-known cryptanalyst Johnny Mo gave his assessment of a possible bearish wave from Ethereum and its influence on crypto.
“Ethereum provokes bearish impulses. If you support bullish, this is not your option. ”
What factors can increase the course of ETH?
Well-known cryptanalyst and trader Michael van de Poppe is convinced that Ethereum has now laid the foundation for further growth. He recently mentioned this on his Twitter account:
Now there is a great opportunity to get rid of a bear pennant. If the key support is protected by the bulls, we can witness how Ethereum will enter a new growth phase shortly.
This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.