By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Ethereum Could See A 15% Drop This Week – A Retreat To $1,000?
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Ethereum Could See A 15% Drop This Week – A Retreat To $1,000?
crypto

Ethereum Could See A 15% Drop This Week – A Retreat To $1,000?

admin Published October 10, 2022
Last updated: 2022/10/10 at 3:59 PM
Share
SHARE

[ad_1]

Ethereum is having a good week, staying in the green zone of the crypto space for the past seven days and raising its price by 3.7%.

Contents
Ethereum And Its Bearish Price PatternBad Time To Buy Ethereum?
  • Ethereum is currently caught in an inverted pennant pattern
  • A resumption of the bearish trend is highly possible for the altcoin
  • $1,130 might be new support marker for Ethereum

The second largest cryptocurrency by market capitalization is currently trading at $1,324 according to Coingfecko at the time of this writing while its 24-hour trading volume stands at a little over $5 billion.

But the widely recognized king of all altcoins and its investors should consider staying on their toes as analysts believe that the asset is headed for a significant price correction and bearish momentum.

This development once again contradicts bullish expectations for the crypto after successfully undergoing network upgrade last month.

Ethereum And Its Bearish Price Pattern

The inverted pennant pattern is where the Ethereum price has been revolving for the past days, with the crypto in danger of being out into an accelerated bearish momentum.

Source: TradingView

Under this pattern, a triangle formation appears where the price peaks before breaking the bottom support trendline and resumes its prior downtrend.

In Ethereum’s case, such a scenario would mean breaking the $1,250 support level all the way to $1,130. If that happens, the altcoin could be looking at a price drop of up to 14.3%.

However, there is a possibility that the reverse would happen and Ethereum will shatter the support overhead trendline which will prevent the looming bearish run of Bitcoin’s nemesis.

Bad Time To Buy Ethereum?

The negative news just keeps coming for Ethereum as crypto tracking tool Coincodex concluded it is not a good time to invest in the altcoin right now.

Come October 16, the digital asset is expected to lose 7.12% of its value and trade at $1,237.79. Technical indicators are also looking bad for the crypto, as its current sentiment is bearish and volatility remains high.

As for its Fear and Greed Index, Ethereum gained a score of 22, which indicates there is extreme fear. Also, out of 30 days, the cryptocurrency only managed to have 12 green days, equivalent to 40%.

Meanwhile, next year appears to be more promising for the altcoin king, as it is projected to end the year with a trading price of $2,156.26 which is significantly higher than its current value.

On that account, experts are saying that 2023 is a good year to buy the asset.

ETH total market cap at $160.36 | Featured image from Local News Today, Chart: TradingView.com

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin October 10, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Google removes The OG App from the Play Store as founders think about next steps
Next Article Samsung seeks smart TV growth with first Tizen OS licensing deals

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?