ETH is constantly reaching declining highs and lows just like BTC. The price of ETH surpassed the previous long-term bottom and found support at $ 2,150. Another support area is located at roughly $ 1,700. Here, too, the price needs to reach rising lows and then a maximum, which, however, is at the level of point of control $ 3,250.
However, the latest slump meant a stronger downward shift for ETH compared to BTC. The result is declining ETH against BTC. Here, too, the price is above the two main supports, $ 2,150 and $ 1,700. Only time will tell if they will keep them.
ETH continues to decline
As with BTC, it can prevail here bear scenario in the coming months. It depends when BTC bounces up. In that case, it is closest to ETH resistance level at $ 2,700. Higher local lows and highs will also be needed for the reversal, as well as bullish volumes, which are still missing.
Although the price may be approaching final phase of the correction, we still do not have a bottom confirmed and the growing trend may come in a few months. We have not even reached a proper accumulation zone, so it is naive to think that we will go into a growing trend in the short term.