Ethereum (ETH) bulls are pressing: Signal for altcoins!

With the increase in buy-side transactions in Ethereum (ETH), bulls came to the fore.

The Ethereum (ETH) price has fallen by 14 percent in the last five days and is trading at $ 2,346 today. From a technical perspective, the 14 percent drop has pushed the ETH price to its current support zone of $ 2,440 to $ 2,252. If ETH manages to close a daily candle above its midpoint above $ 2,340, the selling pressure may decrease.

For the rise in Ethereum, Bitcoin (BTC) needs to complete its correction process and jump above $ 62,000. With this development, sharp increases can be observed in altcoins, especially Ethereum.

Making a leap from the demand zone mentioned above will not be an easy task for the bulls due to the following obstacles.

**The midpoint of the $2,309-2,820 range, $2,564, will be the first obstacle that the Ethereum price will face.

**If this resistance is overcome, Ethereum can target the $2,886 to $2,923 region.

**Then, there is the $3,000 psychological resistance level and the $3,500 band.

In addition to these, the data to come from the spot ETF plays a critical role. The expected net inflow has not yet occurred in spot ETH ETFs. Altcoin investors are expecting an upward movement in altcoins led by Ethereum. Ethereum, which remains in the background compared to Bitcoin, is far from its peak. The real increases in altcoins may begin after Ethereum exceeds $3,000. The series of net inflows by spot ETFs will be decisive for the altcoin rally.

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