CDS Crypto News ETH Price May Trend Downward for a While Before Climbing to $4000
Crypto News

ETH Price May Trend Downward for a While Before Climbing to $4000

ETH price has increased by 2.63% today.

174
Eth Price May Trend Downward For A While Before Climbing To $4000

Crypto News – Analysis of the price of Ethereum (ETH) points to possible turbulence before it attempts to go through $4,000 once more.

ETH Price May Trend Downward for a While Before Climbing to $4000

Even if ETH is sandwiched between levels of strong support and resistance, it might be ready for a significant correction, perhaps of roughly 12.5%, in the near future. The Pi Cycle Top Indicator, which shows Ethereum’s trajectory, suggests potential short-term corrections. The difference between the 111-day moving average and twice the 350-day moving average is the basis for this expectation.

The maximum and lower bounds are now established by the indication at roughly $4,295 and $2,836, respectively. Despite the possibility that this range indicates market stability, Ethereum‘s current position indicates that a decline may be approaching.

Since March 30, ETH’s daily active addresses have steadily decreased, lending credence to the pessimistic storyline. This measure is important because it shows user engagement and network activity; a negative trend suggests a decline in usage and interest. As a result, it can have a negative impact on Ethereum’s price because of a perception of declining investor confidence or demand.

Eth Price May Trend Downward For A While Before Climbing To $4000
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Sui Blockchain Faces First Major Outage: What Happened and What’s Next

Sui blockchain faces its first major outage—learn what happened, the impact on...

MicroStrategy Stock Reaches New High as Bitcoin Surges Above $98,000

MicroStrategy’s stock surged to a new all-time high as Bitcoin reached $98,000,...

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana Face Resistance

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana...