Ethereum (ETH) has experienced a dip of over 2% in the past 24 hours, following a significant price surge of over 19% due to the approval of the Bitcoin spot ETF in the US. CoinMarketCap data reveals this negative price movement for the token. Analysts are now closely monitoring a crucial support level for Ethereum (ETH) following its recent surge. Interestingly, a popular analyst known as “Rekt Capital” has identified a support level at around $3,650 to $3,670. This level holds importance as it is expected to provide strong support in case of a potential pullback. While Ethereum (ETH) has experienced some downward pressure after its initial surge, maintaining a strong support level could be crucial for further positive price movements in the future.
Closing paragraph:
As Ethereum (ETH) faces some downward pressure after its initial surge, the cryptocurrency community is closely watching the crucial support level identified by the analyst “Rekt Capital.” Maintaining this level could determine the direction of Ethereum’s price movements in the near future. Will Ethereum hold firm, or will the dip continue? Only time will tell, but all eyes are on this support level.
