All about Crypto & Blockchain

What’s In Store For Ethereum? Make or Break?

0

The year 2022 has been challenging but fruitful for the second-most preferred cryptocurrency Ethereum. As of late, it has been seeing a downtrend, particularly since November 2022. Ether’s price inflated by around 25% between November 22 and December 14.

It came about after Ethereum formed an equal low at $1,074 and ended by setting up an equal high at $1,352. The smart contract token, since setting up a local top, shed 15% and is bouncing off the $1,150 support level. At the time of writing this article, Ethereum was trading at $1,183. It was down by 0.34% in the last 24 hours. It is likely that the second-most favorable cryptocurrency will trigger a minor run-up to $1,254. However, a rejection at this mark will suggest that investors are still in control and catalyze another leg down. As such, Ethereum could lose nearly 15% of its value to sweep the equal lows at $1,074. This would collect the liquidity and give buyers another chance to accumulate Bitcoin at a discount.

But if buyers take up the market at $1,254 and push the Ethereum price to flip the $1,352 resistance market into support to invalidate the bearish thesis. Ether could see a quick run-up to retest the $1,422 and $1,545 hurdles.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More