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3 reasons why Ethereum price can drop below $3K by the end of 2021
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Ethereum's native token Ether (ETH) reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking sentiment.
And now, as the ETH price holds $4,000 as a key support level, risks of further selloffs are emerging in the form of multiple technical and fundamental indicators.
First, Ether appears to have been breaking out of "rising wedge," a bearish reversal pattern that emerges when the price trends upward inside a range defined by two ascending — but converging — trendlines.
Simply put, as the Ether price nears the Wedge's apex point, it risks breaking below the pattern's lower trendline, a move that many technical chartists see as a cue for more losses ahead. In doing so, their
Read more on cointelegraph.comAbout this in other media
Cryptocurrency Prices today on December 19: Bitcoin, Ethereum rise marginally moneycontrol.com /2 years ago
Here's why Ethereum traders could care less about ETH's current weakness cointelegraph.com /2 years ago
Cryptocurrency Prices today on December 18: Bitcoin, Ethereum fall over 3% moneycontrol.com /2 years ago
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