The post Can Ethereum ETF Inflow Minimize Impact? appeared on BitcoinEthereumNews.com.

ETH price has continued to see strong selling pressure following the rejection at $4,000 as analysts predict a further crash under $3,000. Technical chart patterns suggest that Ethereum has been struggling to continue its upward momentum. As a result, the altcoin might take a dip under $3,000 before resuming the upward journey. This week, inflows into spot Ethereum ETF have resumed once again with Fidelity’s FETH taking the lead on Thursday. How Low Will the ETH Price Drop? Following the rejection at $4,000 last week, Ethereum has already corrected more than 17%. Ethereum price today was flirting around $3,350 levels with no bullish catalyst in sight at the moment. As a result, analysts believe that the ETH price can sink even lower before resuming the uptrend. According to analysis shared on The Moon Show, Ethereum (ETH) appears to be breaking out of a symmetrical triangle pattern. This technical breakdown suggests a potential downside target of $2,920. Source: The Moon Show Crypto analyst Justin Bennett has expressed caution about Ethereum price trajectory. In a recent post, Bennett highlighted the $3,541 level as a critical weekly resistance for Ethereum. He pointed out that the cryptocurrency struggled to break past this mark over the Christmas period. “Yes, we got a Christmas bounce, but it was low volume and mostly driven by retail activity,” Bennett observed, signaling limited conviction behind the recent uptick. The analyst believes that Ethereum could face further decline while expecting a potential bottom in early 2025. On the other hand, analysts are also expecting a Bitcoin price crash to $80,000, in that case, Ethereum can correct up to $2,500 as well. Will Ethereum ETF Inflow Arrest the Downfall? While ETH price has been heading lower, inflows into spot Ethereum ETF have resumed once again this week. In the last three…

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Filed under: News - @ December 27, 2024 10:25 am