Ethereum [ETH] fails to stay above $300: Technical Analysis and Price Prediction
Ethereum [ETH] has not been able to battle the bearish trends seen in the crypto market. Though the trigger in unclear, Ethereum [ETH] is seeing major selling and may not be able to recover quickly. The coin had slipped below the $300 level a few days earlier, but had since recovered. In the last one week, the crypto had lost close to 11 percent in value.
The coin failed to stay above the crucial $300 mark and is currently being assailed by intense selling pressure. The digital asset breached a major support level, traced at $306, and is exhibiting a slump. The virtual currency has already dropped to as low as $285.
The 100 EMA line, at the time of writing, showed that the coin had maintained an uptrend early on in the day, but has since declined to exhibit a downtrend. The MACD indicates that the crypto is slowly inching towards the bearish zone. ETH is exhibiting a significant trading range of $282-$321.1. As of 1800 GMT, the digital asset slid 5.1 percent against the U.S. dollar to trade at $287.7.
At the time of writing, the coin had edged 2.8 percent lower against. BTC. Currently, one ETH is equivalent to 0.045 BTC.
Ethereum Price Prediction 2018,2020
- According to Smartereum, many expect the digital asset to hit a lofty $2,500 by the end of this year. The coin’s price could reach as high as $31,000 in 2020.
- Coinkir has predicted that the crypto will begin 2020 at around $720 and continue rising, reaching as high as $1,488 by the end of the year.
- According to Longforecast, ETH could reach as high as $724 by the year 2020. Experts believe the coin’s price could range within $474-$672 over the next few months.
Ethereum Latest Updates
Minds recently said that it was shifting its platform to the Ethereum blockchain, dropping its existing one. The blockchain-based social network said that it was leaving its Rinkeby test network to migrate to the new blockchain.
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