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HomeNewsEthereum fails due to resistance - analyst outlines horror crash

Ethereum fails due to resistance – analyst outlines horror crash




Ethereum has been showing solid performance for weeks. Now, however, the ETH course could slowly reach its limits. What’s next for ETH?

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Analyst outlines horror crash

First of all, an inventory of the course of the course: Ethereum again failed to crack the resistance at $ 3,330 yesterday. ETH failed twice because of this resistance area. Ultimately, Ethereum made a high at $ 3,336 – and then began a decline.

The second-placed cryptocurrency is currently listed at $ 3,194 in terms of market capitalization. This corresponds to a loss of currently around 2.5% within the last 24 hours.

Ethereum 24h chart: will the new attempt succeed? Source: Tradingview.com

What price development do analysts now expect at Ethereum?

“TradingIdee24” outlines the further course of the business in a particularly bearish manner. He comments: At ETH, a number of factors now come into play that could push the course down “at least in the medium term”. He even thinks a drop to $ 680 is theoretically conceivable. Because, according to the analyst:

“Nowhere is the opportunity for top education greater than in the current zone. Should a correction come into the market, a likely target would initially be the $ 2,300 zone. “

However, if Ethereum also falls through this range, it could decline to as much as 680 dollars as a result. The analyst:

“It doesn’t seem very likely, but it’s a technically sound option that shouldn’t be completely ignored.”




Majority of traders seem optimistic

In complete contrast to this worst-case scenario, the Ethereum forecasts of popular crypto experts on Twitter are. The mood here seems to be predominant that declines in Ethereum are only likely to be temporary. For example, the popular analyst Teddy Cleps writes to his more than 125,000 followers:

“ETH is still above the cloud and an important resistance and you are getting bearish?

Can’t wait to see your face when you buy our tokens for $ 10,000 a piece. “

Also one of the most popular and most cited traders, Pentoshi (@ Pentosh1) is unchanged bullish on Ethereum. In his estimation, Ethereum is on the verge of breaking out in the Bitcoin pair. He therefore expects new all-time highs soon – that is only a matter of time, he writes:

“The macroeconomic view for ETH remains unchanged. The ETH / $ BTC pair looks like it’s breaking out every day

I sketched ETH / USD. My # 1 cold storage position

Either way, new ATHs are on the horizon. […] Price discovery is only a matter of time. “

In the short term, the Ethereum rate is therefore about “all or nothing”. If the coin actually rises to five-digit prices, staying around $ 3,000 could be a good buying opportunity.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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