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When will Ethereum drop (Ethereum price decline)

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When will Ethereum drop? We know that currently there is a voice in the market s

When will Ethereum drop (Ethereum price decline)

When will Ethereum drop? We know that currently there is a voice in the market saying “ETH’s next target is $3000”.

But this statement is not absolute. It doesn’t even provide any reasons why the price would reach $2000, it just says “Ethereum’s price might drop to $300”. Now it seems that Ethereum has reached a “low point”, which aligns well with this prediction:

– If Ethereum drops to this price level, its market cap will increase to around $500 billion from $100 billion;

– Once the ETH/BTC exchange rate surpasses the 200-week moving average convergence (MACD), its value will soar;

– After the ETH/USDT trading pair breaks through the support level of the 100-hour moving average, Ethereum will quickly decline.

Ethereum Price Decline

According to CCN analysis article, Bitcoin price has been declining since Saturday. Currently, the price of Ethereum is $121.6. Based on Coinmarketcap data, ETH/USD rose by 11.8% to $130.9 in the past 24 hours; EOS/USD rose by 13.3% to a peak of $100.7 in the past 24 hours; BCH/USD and XRP/USD decreased by 12.2%, 9.5%, and 5.6% respectively.

Although BTC is still in a bullish state, its relative strength index (RSI) has dropped below the 80 mark, indicating that investors may shift their attention to Bitcoin, which could lead to some volatility in the cryptocurrency market.

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