The Ethereum price has recently experienced a healthy correction fueled by Bitcoin's resistance at the $38,000 level, bringing Ethereum's market value down by 10.7% over the past week. While the correction looks set to continue, the bullish trend may still be intact if the ETH price remains above the 50% Fibonacci retracement level. Current trends are pointing to a potential breakout above the upper boundary of the wedge-shaped pattern, which could signify continued bullish momentum. There is, however, a possibility of a significant correction if the price fails to break out of the wedge and retests its upper trendline near $2200.



Other News from Today