ETH 2024

Market value declined slightly, ETH is a currently popular smart contract platform, this slowdown is a component of a larger pattern of market volatility, which is largely due to investors preparing for the upcoming crisis.

Ethereum price is now $2,266 after a slight decline of 1.06% compared to the previous day, the widely anticipated Dencun hard fork scheduled for 2024 is one example of how Ethereum's native progress is moving forward slowly, despite pessimistic technical forecasts about its imminent recovery happen.

There is still a lot of hope for Ethereum's future despite the recent downturn, bullish market players continue to maintain their positions, supported by positive technical indications and on-chain data showing a promising intermediate trajectory.

In terms of market capitalization, the ETH market continues to consolidate the second position, although the cryptocurrency is facing serious resistance due to major hurdles.

Predicting Ethereum Price after recent market changes regarding ETFs, ETH experienced a significant drop in value of 20%, dropping from $2,714 to $2,171, the cryptocurrency crossed the trendline supporting the expanding channel pattern to signal this slowdown.

Over the previous three months, Ethereum's rebound was largely driven by this pattern, with a price of $2,200, Ethereum attracted the attention of new investors, despite the fact that this breakout initially indicated the potential for a prolonged corrective period.

In just one week, increased purchasing activity caused Ethereum's value to rise by 1%, allowing it to regain previous support levels.

Despite the recent changes, Ethereum's price performance over the past year has been excellent. The cryptocurrency experienced a remarkable growth of over 43 percent, indicating a definite upward trend.

A wave of excitement emerged among investors and market analysts with this upgrade, Ethereum's resilience in the face of current market volatility adds further confidence to their position, this resilience is considered proof of ETH's long-term viability.

Ethereum future predictions and technical indicators
Bullish momentum is expected to return if the market pushes Ethereum price above the $2,350 resistance.

In this case, ETH price is expected to test the next resistance level at $2,400, if the price stabilizes at this point, ETH could break above the more ambitious resistance level of $3,000.

However, if market dynamics favor the bearish trend and bears take over, Ethereum's value could fall towards the $2,400 support.

A prolonged decline in market momentum may exacerbate this downward trend and force Ethereum to prepare for higher support levels near $2,000 in the future.

Mixed signs can be seen on the market's daily technical price charts. The bearish trend is indicated by the Moving Average Convergence Divergence MACD, the MACD line and the signal line are below the zero mark, making it obvious.

This pessimistic attitude is supported by the Chaikin Money Flow (CMF) indicator which is currently negative at -$0.03, this hesitation increases the possibility of a bullish return in the near future.