Key Takeaways
- Ethereum’s (ETH) price trades around $4,100 following market crashes as the price aims to defend the zone.
- Crypto experts and traders suggest that a strong bullish price action for Ethereum is likely if the price rallies above $4,350.
- Ethereum’s price must defend $4,100 to avoid a further price crash to lower regions.
The crypto market witnessed the crash of Bitcoin and many altcoins in the last 24 hours, as the price of Ethereum (ETH) was not left out of the picture, following a price crash from its high of $4,800, creating new all-time highs to a region of $4,100, acting as a key area of interest for the Ethereum price.
Following the recent market dump, the price of Bitcoin currently trades around $112k, which some are speculating may be a potential market exhaustion for the crypto asset, leading to a significant decline for many altcoins.
This market crash has triggered several liquidation points for ETH and other altcoins, as prices trade around key zones that act as demand areas for the price. A break to the downside could trigger more price crashes to lower price regions.
While liquidations are not always a welcome act in the market, this is not uncommon, as it gives the market an opportunity to reset and allows other investors and traders who were sidelined by earlier price movements to re-enter the market.
Crypto Market Sentiment on ETH Price
Despite the price of Ethereum still trading within a range for months, the price of ETH must break out to the upside of $5,000 to confirm strong bullish price action and a new upside rally for traders and investors.
Trading around the key demand zone would allow many traders and investors to evaluate the next course of action before deciding whether to open a long or short position for the Ethereum price.
Ethereum Price Analysis
Source – ETH Price Analysis from TradingView
The price of ETH experienced a significant decline from a high of $4,700 toward a key area of interest at $4,100. If the price displays a clear bullish rebound, it could bounce back to the upside, reaching $4,350 to $4,700 in the coming days.
If the price of Ethereum fails to trend to the upside and breaks lower, it could eventually trade toward $3,700 as the next key region of interest, potentially leading to further market crashes for other altcoins.
Overall price action remains bullish ahead of a potential rally towards year-end, as speculation of $5,000 ETH remains active for many.
FAQs
How much is ETH right now?
Ethereum currently trades around $4,190 at the point of writing.
How much will 1 ETH be worth in 2030?
Ethereum has the potential to reach a high of $7,000 by 2030.
Why is the ETH dropping?
The market saw some decline following the price of BTC crashing towards a key low of $111,000.
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