Ethereum support is keeping Ethereum bullish in a bearish market as Bitcoin plunges to the $44,400 mark briefly. Bitcoin can keep the whole crypto market from falling if it maintains the $44,200 support zone.
Ethereum has been rising at 70 degrees being extremely bullish in the last week and the ascend was stopped when Bitcoin’s nosedived to $44,400. Ethereum is out of the accumulation zone above $3270 and that’s where it has strong local support. To keep up the bullish momentum, Ethereum needs to respect this support to rise to the next target at $3,800. EMA 20 at the 4-hour chart is acting as local resistance to keep the Eth volatility in control and once it turns to support, Ethereum will resume its journey to the moon.