• Ethereum Rainbow map says ETH price in cheap zone.
• Ethereum token accumulation rises amid bullish sign.
• Analysts says the chart points to promising gains ahead.

The crypto market experienced a fall in pioneer asset prices today as geopolitical tensions escalate. The price of oil has shot up, leading to an unexpected rise in financial tension as well. As Powell addresses the issue and shared his concern, crypto prices took a hit and the price of BTC fell from $74,000 to $70,000, having failed to break past the $76,000 resistance. Meanwhile, Ethereum Rainbow map says ETH price in cheap zone. 

Ethereum Rainbow Map Says ETH Price in Cheap Zone

Today’s rise in geopolitical tensions led to a rise in oil prices, leading to rising concerns in the financial realm, a concern addressed by Powell himself. As a result, financial markets reacted and risk assets like crypto took the hit. In detail, the price of Bitcoin (BTC) fell by a significant amount going from $74,000 to $70,000, having failed to break past the $76,000 resistance level.

Meanwhile, the price of Ethereum (ETH) held on to its rally, experiencing a very short fall in price, going from the $2,300 price range to the $2,100 price range. However, based on %, BTC fell by over 4% while ETH fell by over 6%. Despite the plunge, bullish analysts remain hopeful for a continued recovery and a possible opportunity for altseason to continue, giving rise to varying sentiments.

Even the most bearish of analysts believe a fake pump may play out that could lead the price of BTC as far as the $88,000 price range. Perhaps this will be the window for the long-awaited altseason to play out with ease. In contrast, bearish analysts believe that now BTC has failed to break the $76,000 resistance, then the price of BTC may simply decline until it hits the $66,000 price range. 

As the price of BTC slips below $70,000, bullish analysts refrain from panic-selling and look towards the long-term view. According to long-term charts, the price of BTC is set to surpass $200,000 and most institutions and whales are accumulating both BTC and ETH to prepare for this eventual rally. As we can see from the post above, the Ethereum Rainbow map points to one fact, that the price of ETH is cheap at the moment.

Altseason Enthusiasts Accumulate ETH Exuberantly 

The post also goes on to elaborate that ETH accumulation opportunities will remain strong as the chart is still a way away from the still cheap, steady, and HODL like. The post states that this band has appeared twice so far, and both times the price of ETH went on to hit the take profit phase within 18 months. Thus, the post concludes that a promising rise in ETH price lies ahead, taking ETH to 5-digit prices soon.