Is Ethereum In Danger? Analyst Warns Of Bearish Future If ETH Drops Below This Level

Ethereum (ETH) showed a notable performance throughout March. The second largest cryptocurrency hit $4,000 twice and seemed ready for lift-off to a new all-time high (ATH) while the whole crypto market soared. Quarter one (Q1) 2024 closed with important achievements for the crypto community. However, as Q2 started, Bitcoin began a correction that dragged Ethereum and the rest of the crypto market. Related Reading: Investor Alert: Ethereum Q2 Potential Promises Double-Digit Gains – Analyst Are Ethereum Bulls In Problems? The king of altcoins has registered red numbers for the past two days. ETH’s momentum recovery after the market slowdown was halted after the token followed BTC and the rest of the market. On Monday, crypto analyst Ali Martinez expressed concerns about Ether’s future. He suggested investors should “always be prepared for the best and the worst” scenario. Martinez deemed “breaching the $3,400 support level” as the most brutal scenario for the second-largest cryptocurrency. This move would confirm a bear pennant pattern that formed on the daily chart. If confirmed, the bearish formation could trigger ETH’s price to …..