Main menu


Ethereum (ETH) is about to fall below $3,000 for this reason

Ethereum (ETH) price is trading below two crucial support levels, after seeing continued declines over the past week. However, the decline is expected to intensify in the coming days as ETH is currently seeing a market high.

You are expected to lose ETH The $3,000 level is for this reason

Despite the recent pullback, Ethereum price regained nearly $3,500 as a support floor before failing. This has allowed cryptocurrency investors to make profits. Currently, more than 96% of the total supply is made up of profits.

Such a situation confirms the validity of the market top. A market top refers to the highest point an asset's price reaches before a downtrend begins. They indicate a peak in investor optimism and often precede a market correction or decline. This is confirmed when more than 95% of the offer is profitable.

Ethereum Results Show
Offer Ethereum for profit. Source: Glass knot

Therefore, it is very likely that Ethereum will see a further decline.

Read more: Is Ethereum more important than Bitcoin in today's digital currency market?

Additionally, Ethereum is in constant liquidation, with supply on exchanges increasing over the past few months. The sale between investors resulted in the IPO of over 2.31 million ETH worth over $7.6 billion.

Show Ethereum on exchanges.
Ethereum is offered on exchanges. Source: Feeling

So if the selling continues in bearish conditions, it will find... Ethereum Price Difficulty recovering, which will push him even lower.

Ethereum Price Prediction: $3,000, Are We Coming?

Ethereum price, which is trading at $3,308, has already lost support at the 50-day and 100-day EMAs and is also below the $3,336 support line. This leaves Ethereum very vulnerable to testing the next crucial price level as support, which is $3,031.

It will likely fall to this level, and if the above conditions persist, ETH could also fall below $3,000.

ETH/USDT 1-day chart.
ETH/USDT 1-day chart. Source: Trading View

Read more: How to protect yourself from inflation with cryptocurrencies?

However, if it manages to rebound from $3,031, it could embark on a recovery or slow down the decline. This would give Ethereum price a chance to reclaim $3,336 and invalidate the bearish thesis.

Best Cryptocurrency Trading Platforms

Of confidence


All information published on our website is offered in good faith and for general information purposes only. Therefore, any action, behavior or decision taken by the reader in accordance with this information is solely the responsibility of itself and its affiliates individually, and the site assumes no legal responsibility for such decisions.

الأسواق,ايثريوم,سعر ايثريوم