Ethereum may be looking at 35% price drop

[BrolySSJ 7899]

The most important thing when it comes to trading in cryptocurrencies, is to be able to try and analyse the market and make predictions. For many this technical knowledge goes beyond what they have in the crypto field, and so they rely on that which is presented by news articles and the information that is released by the crypto analysts as well. Recently, and article by the cryptocurrency analysts show that the Ethereum coin could be in for a price drop to 1040 USD, as is predicted by some experienced crypto analysts. 

 

This would be a 35% drop in the price of this coin, which has in the past few months, been seeing new highs in terms of its price and value. This price reduction however is not uncommon in the cryptocurrency field as there is always a correction factor that happens after a major price hike, however crypto analysts say that this price prediction may not be limited to the Ethereum coin and may be experienced across the entire cryptocurrency market. 

 

Based on the current pattern for Ethereum pricing, the pattern is following a rising wedge, which is what analysts have used in determining that the price is likely to take a nosedive. It is expected that the selling market of Ethereum may start to exceed the buyer market, and therefore the decline. 

 

What are your thoughts on this? Do you think that this article can contribute to the panic selling that will also cause the price to go down? 

[Dorjoy12 8962]

not  only eth but almost all the coin has dumped because of bitcoin new ath . Actually i have also get this signal from a  trader that on sunday all the alt will dump because of end of the week but actually  the market has crashed just because of btc pump as it touched 50k plus already . But altcoin will dump again on sunday. 

[Whited35 15285]

On 2/15/2021 at 2:58 PM, BrolySSJ said:

Recently, and article by the cryptocurrency analysts show that the Ethereum coin could be in for a price drop to 1040 USD, as is predicted by some experienced crypto analysts. 

Dear @BrolySSJ , once you cite the article, kindly mention the links to your topic as the reference otherwise it is really hard to get convinced to your statements no matter how long you write here.

On 2/15/2021 at 2:58 PM, BrolySSJ said:

What are your thoughts on this? Do you think that this article can contribute to the panic selling that will also cause the price to go down? 

Those analysts who predict the possible drop in ETH price, that could be just their assumptions but in my personal opinions, ETH price keeps going up due to the ETH 2.0 staking and increasing DeFi activities. 

[Ridam 7455]

Well, if we analyse the trend we can clearly look in eth/usd chart we are bullish and Eth has already crossed the neck line of Previous Ath and is on the edge of breaking out. Once we cross the 2K line which is already tested once, with good volume support then its more likely than the psychological level kf 2.5K and 3K would be the next target for Eth in coming days. So minor correction are just because of btc movement and we should show hodling power at the dip or just accumulate more if we are buying in part.

[Obliv0n 333]

Sooner or later and although the holders do not want to, the price will have a massive correction in both bitcoin and eth, prices are going up too much without any justification, one thing is that the projects offer something, but the price is only going up because the offer it does not exceed the demand and many are taking advantage to generate money, it may not collapse now but it will and soon.

[selfmade 7]

Prediction and analysis seems to be as the things that runs this crypto world, if prediction says price would rise even if prediction has no standing, people would just invest according to prediction making the prediction come true. And predictions of rich people seems to be more working that predictions of the analyst.

[Merry Cherry 670]

I am not sure but i think Ethereum price will not go down because its also a digital currency if experienced people says or they predict that price will fall down so we should invest and work according to the situation.

[Cleaner 2549]

If we look at the price of Bitcoin, we can see that the price of other Altcoins goes down.  As the price of Bitcoin rises, the market for Altcoins starts to crash.  However, the price of etherium has come down.  However, there may be reasons for Bitcoin's ATH to reduce its price.  And may be due to the correction of Ethereum, but also due to the tendency of the whale to reduce its price.

[Froshk 1828]

I think your speculations are beginning to manifest, the currency  has dropped 35% when compared to some weeks back I don't know why this happened but I believe it is mostly because of the drop-in the price of Bitcoin

[prorok1337 21]

On 18.02.2021 at 17:42, Dorjoy12 said:

not  only eth but almost all the coin has dumped because of bitcoin new ath . Actually i have also get this signal from a  trader that on sunday all the alt will dump because of end of the week but actually  the market has crashed just because of btc pump as it touched 50k plus already . But altcoin will dump again on sunday. 

Altcoins depends too much from the price of Bitcoin. When Bitcoin falls all other altcoins fall too. I think that now it is a market correction and soon the price of altcoins will grow too.

[kryptonick 2659]

You gave us a good warning about the Ethereum price @BrolySSJ. I was also very afraid that the price of $2000 was going to be a very difficult resistance for Ethereum to break. It dropped a lot a little later and reached a soft support at $1250 which was later recovered as Bitcoin also recovered. But since then Ethereum doesn't look very bullish as in previous weeks and the beginning of the year. It looks that it is suffering and this may mean a new possible decline I am afraid.

Although, yes, as other members stated, when you are giving out quotes from others especially about the price, I would like to read the source too. It gives us a better understanding and validation of what you say.

Edited March 6, 2021 by kryptonick

[pacific 2268]

41 minutes ago, kryptonick said:

I was also very afraid that the price of $2000 was going to be a very difficult resistance for Ethereum to break. It dropped a lot a little later and reached a soft support at $1250 which was later recovered as Bitcoin also recovered. But since then Ethereum doesn't look very bullish as in previous weeks and the beginning of the year.

@kryptonick Well, Ethereum was a record breaker at above $2000, though it was tough to get investors believe; it will retain further more and keep merging on bullish market like bitcoins. Even I had to sell ETH quick, just because I am not sure of this drastic performance, and when it will be leaving the bull market, and dropped out significantly.

[Dorjoy12 8962]

On 3/6/2021 at 5:53 PM, prorok1337 said:

Altcoins depends too much from the price of Bitcoin. When Bitcoin falls all other altcoins fall too. I think that now it is a market correction and soon the price of altcoins will grow too.

not like so brother.. Once more  time i am suggest you to look the crypto market more goodly because whenever the btc price pump then all the investor go into bitcoin which lead the altcoin price decrease to much. and as soon as bitcoin start to dump then altcoin market become green again.. BUt some time the altcoin pump if btc price become stable into a position.

[Mella 3680]

I think it was dropped close to $1000 as you are saying, maybe higher but was close to that price. It is recovering since that drop and looks that it will keep be follower for Bitcoin. Ethereum is very corelated to bitcoin for months but when Bitcoin makes correction Ethereum really dives down a lot.