\nThe ETH price back on correction trend hints a breakdown below $1500; Should you sell or keep holding\t\t\t\t<\/p>\n
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The recent recovery in Ethereum coin price<\/a> has hit a stumbling block around the $1666 mark. A quick glance at the daily charts reveals that this surge met significant resistance from a declining trendline, causing a swift price reversal. This trendline, instrumental in guiding prevailing correction over the past two months, suggests that a further downtrend might be on the horizon.<\/span><\/p>\n <\/p>\n Also Read: What\u2019s ERC-7512? A New Standard Proposed By Ethereum Developers<\/a><\/p>\n On September 19th, the ETH price experienced its third price rejection from this same declining trendline. This reversal showed the formation of consecutive lower highs on the daily chart reflecting a strong indicator that the bearish sentiment still prevails.\u00a0<\/span><\/p>\n In just the span of the past three days, the second-largest cryptocurrency has descended by 3.8%, currently trading at $1596. If this bearish trajectory continues unchecked, we could see Ethereum dip another 4%, potentially targeting the $1460 support level.<\/span><\/p>\n<\/blockquote>\n For those traders looking for a bullish entry point, it would be prudent to await a confirmed breakout above this pesky resistance trendline. Such a bullish move could pave the way for a renewed uptrend in ETH price.<\/span><\/p>\n <\/p>\n Comparing the ETH price movements to the Bitcoin price<\/a> over the last quarter, it\u2019s evident that the Ethereum coin has been lagging. Since mid-August, this altcoin\u2019s descent has been steeper, and its attempts at recovery have been tepid at best. This comparative underperformance underscores the cautious approach traders might want to adopt when considering buying Ether in the near term.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\nWill Correction Trend Prolong Below $1500<\/b><\/h2>\n
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Source- Tradingview<\/span><\/p>\n\n
ETH vs BTC Performance<\/b><\/h2>\n
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Source: Coingape| Ethereum Vs Bitcoin Price<\/span><\/p>\n\n
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