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Ethereum (ETH) has gone down by nearly 11% in the past 7 days as the crypto market continues to pull back amid the appearance of new headwinds.
Rising tensions in the Middle East paired with the upcoming meeting of the Federal Reserve this Wednesday have depressed the markets a bit. In addition, negotiations between the United States and China regarding tariffs seem to have stalled.
Investors have adopted a cautious approach as reflected by the behavior of the Fear and Greed Index, which currently sits at 48 – meaning that the market’s attitude is leaning to Fear at the moment.
This marks a significant shift compared to the Greed levels seen in late May back when the market was roaring back from its 2025 lows.
Ethereum was one of the best-performing tokens during the recovery after the Pectra upgrade lifted the price of this cryptocurrency and pushed it near the $3,000 level.
Pectra improves the Ethereum network’s scalability and efficiency by introducing a higher number of blobs per ETH block to give layer-2 solutions like Arbitrum a way to offer lower fees and faster transaction execution speeds.
In addition, the upgrade should make ETH a deflationary coin as a portion of transaction fees will now be burned automatically.
Can ETH recover and push through the noise to hit $3,000 and beyond?
Ethereum Could Rise to $4,000 If It Breaks Above Its Consolidation Pattern
Looking at the daily price action, one historical pattern seems to emerge that could anticipate an upcoming jump in the price of the top altcoin.
ETH has entered a phase of consolidation where market participants could be accumulating tokens ahead of a big move.
The price action has found support at the 200-day exponential moving average (EMA) temporarily and this favors a positive long-term outlook as ETH’s latest pullback can be interpreted as a mere ‘mean reversion’ move rather than a change in the price trend.
We can see that a similar setup appeared in October ahead of a big event – the U.S. Presidential election. The market could be preparing for the next big catalyst that propels ETH to $3,000 and even $4,000 and it is accumulating the asset at this low price to reap the highest returns once that happens.
The key support to watch would be the 200-day EMA as a break below would invalidate this bullish outlook. In contrast, as long as that level holds, the future seems bright for this cryptocurrency.
As cryptos continue to defy the market’s negative sentiment, Bitcoin (BTC) has already demonstrated that it has gained its place as one of the world’s favorite safe havens.
One innovative crypto presale called BTC Bull Token (BTCBULL) has introduced a rewards system to BTC investors that allows them to earn passive income as the price of the top crypto rises to new heights.
BTC Bull Token (BTCBULL) Will Perform Airdrops and Token Burns Based on Bitcoin’s Performance
BTC Bull Token (BTCBULL) has introduced a new mechanism to reward investors every time Bitcoin reaches a new price milestone.
The rewards scheme is quite simple. Starting at a baseline price of $100,000, for every $25,000 that BTC adds to its price, a new reward will be unlocked.
The first milestone is set at $125,000, at which point a portion of BTCBULL’s circulating supply will be burned. Next up, once the top crypto reaches $150,000, token holders will receive a direct airdrop.
The price of BTCBULL will rise alongside that of Bitcoin while its demand will likely rise once the token is listed on top exchanges and its rewards mechanism is known by a larger audience.
To buy BTCBULL, head to the BTC Bull Token website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH to buy this token or use a bank card to make your investment.
