Price Analysis View Non-AMP

Will Ethereum Follow Bitcoin’s Footsteps & Undergo a 20% Retrace for the Next 15 Days?

Published by
Sahana Vibhute

The recent upswing, followed by the approval of the spot Ethereum ETF, appears to be a short-lived rally as the markets have begun to consolidate. The Ethereum price had also soared close to $4000 but before reaching these levels, the token faced extreme upward pressure. Besides, the Bitcoin price has remained stuck between $67,000 and $67,500 since the early trading hours. Therefore, the current trade set-up indicates the price may follow the previous trend, which ended in a huge retracement of over 20%, which prevailed for over 10 days. 

It was a good day for the crypto space, as after Bitcoin, the Ethereum ETF has also been approved by the SEC. The markets reacted positively as the prices of ETH and other popular tokens breached their respective resistance levels. It is a known fact that Ethereum closely follows the Bitcoin price trend and if history repeats itself, then the ETH price may face a huge plunge. 

The Bitcoin price retraced from $47,000 and reached levels below $40,000 soon after the launch of the spot ETF. This also compelled the other major tokens, including the ETH price, to face a huge pullback. This seemed to express the proverb, ‘Buy the rumour, sell the news,’ which flashed the possibility of the ETH price also mirroring a similar trend and as a result, the ETH price may correct for a while similar to BTC. 

The ETH price managed to break the heavy resistance zone around $3500 with the help of a classic falling wedge. On the other hand, the ETH/BTC also broke above the key resistance line, which continues to flash bullish signals for the crypto and many other altcoins. Hence, if the markets begin to rise, the ETH price may quickly rise, which could be a major signal of the beginning of an altseason. 

Currently, the prices of both Bitcoin & Ethereum appear to be at the foothill of a fresh descending trend. Hence, if the bulls fail to defend the local support, a plunge below $3500 or $3300 may be expected. Meanwhile, if the bulls manage to trigger a rebound, the Ethereum (ETH) price may begin a fresh upswing to find new ATH above $5000.

Also Check Out: Massive Surge In These Altcoins Target A 2x Surge

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

Polkadot Price Prediction 2025, 2026 – 2030: Will DOT Price Cross $10?

Story Highlights The live price of the Polkadot crypto token is . Polkadot price can…

June 27, 2025

Toncoin Price Prediction 2025, 2026 – 2030: Will TON Price Reach $10?

Story Highlights The live price of the TON token is Toncoin price could hit a…

June 27, 2025

Pi Network Mainnet, KYC Fixes, and More — What to Expect on Pi2Day

With Pi2Day just around the corner, the Pi Network community is buzzing with hopes and…

June 27, 2025

WazirX Hearing Rescheduled to July 15: Singapore Court Sparks New Hope

The Singapore High Court has rescheduled WazirX’s next hearing in case HC/SUM 940/2025 to July…

June 27, 2025

Binance Coin BNB Price Prediction 2025, 2026 – 2030: Will BNB Hit New ATH?

Story Highlights Binance Coin Price Today is . The BNB price prediction anticipates a potential…

June 27, 2025

Analysts Say Mutuum Finance (MUTM) Could Be The Next Crypto To Hit $1 Before Dogecoin (DOGE)

Analysts are spotlighting Mutuum Finance (MUTM) as the next crypto to hit $1 before Dogecoin…

June 27, 2025