Ethereum Witnesses Selling Pressure At Higher Levels! Will ETH Price Be Able To Breach $2K?

Coinpedia
Coinpedia

27 Jun 2023 4:55 PM

In recent weeks, Bitcoin’s price has been able to break past the critical $30K resistance level, pushing several altcoins to remarkable bullish rally....

  • Bitcoin's recent rally has not significantly boosted Ethereum's price, which has been consolidating near $1.9K.
  • ETH holders are selling off their call options, indicating a lack of confidence in Ethereum's near-term price potential.
  • The Ethereum/Bitcoin trading pair has just concluded trading at a low unseen in the last 300 days, resulting in a bearish environment for Ethereum's price.
  • Ethereum's price has been fluctuating between $1,930 and $1,840 over recent days, with signals suggesting that the bulls hold a slight advantage.

The article presents a mixed sentiment towards Ethereum's price, with some signals suggesting a potential rally towards $2,000, while others indicate a bearish environment and lack of confidence in its near-term price potential.

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You May Ask

What has been hindering Ethereum's upward price trajectory?What is the significance of the max pain points for Bitcoin and Ethereum?What is the current trading pattern for Ethereum's price?What signals suggest that the bulls hold a slight advantage in Ethereum's price?What could happen if the bears drag the price beneath the $1,846 support level?

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