Ethereum Price Prediction: Is The Crash Over Or Just Beginning?
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Ethereum's Price Trend: Ethereum's price has been declining, raising concerns among investors about the potential end of the bull market.
- Support Level for Recovery: Despite the downward trend, a significant support level around $3,000 could trigger a potential recovery in Ethereum's price.
- Daily Technical Analysis: Ethereum's daily chart shows a persistent downward trend within a descending channel pattern, with $3,000 identified as a strong support zone. A breakdown below this level may lead to further declines.
- Sentiment Analysis: The Taker Buy Sell Ratio in Ethereum's futures market indicates increased market sell orders post-rejection from $4,000, suggesting anticipation of further price drops in the short term.
- Investor Recommendations: Investors are advised to monitor the RSI and futures market metrics for potential signals of a rebound as Ethereum's decline continues.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
