Lokesh Gupta
16-04-2024
#Ethereum has been trading within a descending parallel channel since experiencing rejection from yearly highs.
Over the weekend, Ethereum's price witnessed a significant decline, attributed to escalating tensions in the Middle East.
Despite briefly dipping below the $3,000 support level, Ethereum's price bounced back from the lower boundary of the channel.
Ethereum encounters several hurdles around the $3,200 mark, with potential for further bearish momentum if it remains below $3,200 and $3,300.
Hong Kong's approval of #Ethereum ($ETH) Exchange Traded Funds (ETFs) on April 15 signals a positive development for Ethereum, potentially driving the price toward the $3,600 resistance level and the higher boundary of the pattern in the coming days.
Conversely, The rapid recovery subsequent to the drop below $3,000 suggests the likelihood of a false bearish breakout.
According to Coingabbar Prediction, Ethereum price prediction 2030 is projected to be about $10,000.
KEY LEVELS :
RESISTANCE LEVEL : $3,150-$3,250
SUPPORT LEVEL : $3,030-$2,950
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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