Ethereum Price recorded a vast decrease after reaching the highest level above USD 4,900. This movement caused the bears to withdraw the price, based on the campaign of achievements of $ 5,000. So far, bears have remained under control and it seems that it will be so for some time, and techniques indicate a possible 10% failure that would again cause USD 4000.
Why the price of ethereum is threatened
In the update of the previous analysis, Klejdi Cuni forecasted a further decrease in the price of Ethereum, with bears more observable. . Previous forecastShared at the weekend, he indicated that the price of Ethereum accumulated from the bear triangle. This suggested a further transition to the territory of $ 4,300.
According to forecastThe price of Ethereum actually dropped, breaking briefly below $ 4,300 before jumping back again. This happens after the price dropped below support of 4,490 USD, which again putting bears at the price of Ethereum. From the first part of the forecast were met, then ETH can reproduce the full forecast hence.
The cryptographic analyst previously revealed that he expected the price of Ethereum to decrease; First, up to USD 4335, and then to USD 4,215, before it finally landed for USD 4,081. This forecast has been repeated in an updated analysis, showing where you can raise the price.
Then, the cryptocurrency list is to test the resistance zone of about USD 4,500. It was before The level at which the price was beaten backsuggesting that a similar trend can recreate. If the price is rejected here, it can signal the continuation of the bear.
The analysis also involves the efficiency of Bitcoin prices, which is still running the entire market. Until now, the price of Ethereum has achieved better results during the last market disaster. However, if the price of bitcoins continues the decline, the price of Ethereum will probably take place in the same direction. Add the fact that the situation around the American dollar remains unclear and the analyst sees a great risk at that time.
There is also a possibility The price of ethereum turns to positive once again. This is due to the resistance of USD 4,650, serving as a make-order level. If the price is rejected from here, it may mean more drops. However, if Eth Bulls are able to recover it with strength, it can be used as a reflection point for the next rally.
A distinguished picture from Dall.e, chart from tradingview.com
