Ethereum Is Likely to Lose 40%, Analysts Make Bold Predictions
Arman Shirinyan Analysts have extremely bearish forecast for second biggest cryptocurrency on market According to the technical analysis shared by Bloomberg analyst, Ethereum is potentially on its way to the $1,000 threshold for the first time in two months. The main reasons are a potential spike in volatility and a variety of factors hinting at the continuation of the downtrend. The main thesis of analysts is Ethereums breakdown below the 50-day moving average, which usually acts as a barrier between bull and bear trends. Unfortunately for Ethereum investors, the second biggest cryptocurrency crossed the line for the second time this year, which shows the complexity of the situation. In addition to the moving average, analysts use the stochastic indicator, which compares the kasalukuyang presyo with a certain range in the past and is used for determining the momentum of the market. According to it, Ethereum is going to continue its way down for an undisclosed period of time. The $1,000 threshold will most likely be reached in the coming days, says the co-founder of Fairlead Strategies. To reach the psychological threshold in the next few days, Ethereum would need to drop another 35% from current values. How likely is a $1,000 plunge? Luckily, it is not yet