Ethereum falls by over 30% in less than a week

0

[ad_1]

Like most major coins in the market, Ethereum has seen a massive sell-off over the last week or so. The coin is down about 30%, and as sentiment in the market takes a risk-averse approach, this decline is far from over. So, where does ETH go from here? More analysis later in the post but first, check out these highlights:

ETH has fallen below $1300 for the first in 18 months

A fall below $1,000 is likely and could trigger a huge sell-off

Momentum in the market appears very limited, and ETH will remain suppressed.

Data Source: TradingView

Where does Ethereum go now?

At the moment, there isn’t a lot of good news coming from crypto. As most coins sell-off, we do not see any signs that the downtrend will ease. If anything, this could be the beginning of a very difficult period for crypto in the near term. So, we expect ETH to continue sliding. 

There will be some fake-outs in between where the coin rallies a bit. But overall, the trend will push downwards. It will be very interesting though to see the kind of resilience ETH shows at $1000. Losing $1000 will be a huge setback for the coin, and bulls must defend this price at all costs.

Nonetheless, if ETH can reclaim the $1300 support in the coming days, perhaps a massive met down will be avoided. So far, the coin is down 15% over the last 24 hours.

Is the crypto bull run over?

When major coins like ETH start to fall sharply, they often weigh down the whole market. 2021 was one of the best years for crypto. But it is now clear that 2022 will be the year of corrections. 

ETH is likely going to face more pressure but could still close the year above $5000. It all depends on how investor sentiment develops in the coming weeks.

[ad_2]

Source link

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 63,516.00
ethereum
Ethereum (ETH) $ 1,666.05
tether
Tether (USDT) $ 0.999402
bnb
BNB (BNB) $ 603.95
usd-coin
USDC (USDC) $ 0.999844
xrp
XRP (XRP) $ 1.13
solana
Solana (SOL) $ 66.76
tron
TRON (TRX) $ 0.315048
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.03
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
hyperliquid
Hyperliquid (HYPE) $ 61.26
dogecoin
Dogecoin (DOGE) $ 0.087672
usds
USDS (USDS) $ 0.999587
leo-token
LEO Token (LEO) $ 9.49
rain
Rain (RAIN) $ 0.013027
zcash
Zcash (ZEC) $ 415.44
wrapped-steth
Wrapped stETH (WSTETH) $ 2,779.67
monero
Monero (XMR) $ 355.02
stellar
Stellar (XLM) $ 0.189774
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,243.00
cardano
Cardano (ADA) $ 0.170289
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998762
canton-network
Canton (CC) $ 0.160477
wrapped-beacon-eth
Wrapped Beacon ETH (WBETH) $ 2,466.93
whitebit
WhiteBIT Coin (WBT) $ 51.88
chainlink
Chainlink (LINK) $ 7.86
the-open-network
Toncoin (TON) $ 1.68
wrapped-eeth
Wrapped eETH (WEETH) $ 2,465.31
ethena-usde
Ethena USDe (USDE) $ 0.999566
usd1-wlfi
USD1 (USD1) $ 1.00
susds
sUSDS (SUSDS) $ 1.08
dai
Dai (DAI) $ 0.999649
bitcoin-cash
Bitcoin Cash (BCH) $ 204.76
memecore
MemeCore (M) $ 3.07
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 76,366.00
hedera-hashgraph
Hedera (HBAR) $ 0.078020
litecoin
Litecoin (LTC) $ 42.95
lab
LAB (LAB) $ 9.78
weth
WETH (WETH) $ 2,268.37
sui
Sui (SUI) $ 0.749771
hashnote-usyc
Circle USYC (USYC) $ 1.13
shiba-inu
Shiba Inu (SHIB) $ 0.000005
usdt0
USDT0 (USDT0) $ 0.998824
avalanche-2
Avalanche (AVAX) $ 6.59
crypto-com-chain
Cronos (CRO) $ 0.059452
global-dollar
Global Dollar (USDG) $ 0.999984
paypal-usd
PayPal USD (PYUSD) $ 0.999691
near
NEAR Protocol (NEAR) $ 2.01
tether-gold
Tether Gold (XAUT) $ 4,197.52
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
Shares