Ethereum(ETH) Price May Surge High in April 2022 But Still May Have a Bearish Monthly Close!
The post Ethereum(ETH) Price May Surge High in April 2022 But Still May Have a Bearish Monthly Close! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Ethereum price is seen struggling with its price for a pretty long time. As it closely followed the Bitcoin price trend, a stagnant trend with the BTC price has impacted the ETH price rally largely. While the second-largest crypto is managing to sustain the uptrend with ease by ranging slowly but steadily, still the trend indicates a huge slash in fast approaching that could drag the price back to the $3000 range.
As seen in the 4-hr chart, the ETH price is surging high within a notable rising wedge where-in a huge drop is haunting the rally after a last jump towards the resistance. Here the bulls are expected to be trapped for a while as the prices are expected to fall heavily towards the lower support around $3000. No doubt the trap would be a short-lived one as the price is already pre-programmed for a flip that may reinstall bullish momentum to surge back above $3400.
Despite the bearish trend ahead, the price is still expected to range high to test the current milestone at $4000.
To be updated
