Ethereum Price Prediction as Millionaire Trader Says ETH Will Fall to $1,400 – What's Going On?

cryptonews.com:

The price of Ethereum (ETH) has risen by 1.4% in the past 24 hours, reaching $1,669 after millionaire trader KBM predicted that the altcoin is set to fall to around $1,400.

This forecast comes as ETH remains down by 7% in a week and by 10% in the last 30 days, with the biggest altcoin remaining up by 39.5% since the beginning of the year.

With the wider market (and global economy) remaining in an unsettled and uncertain state, it is entirely possible that ETH suffers further losses before making a sustained – and overdue – recovery.

However, its technical indicators suggest that it's already very close to bottoming out, and that a rebound should be arriving soon.

Looking at ETH's chart, it's clear that the altcoin doesn't have too much momentum right now, with its 30-day moving average (yellow) having just fallen below its 200-day average (blue) in a 'death cross.'

Such crosses can indicate further losses and sales, and with ETH's relative strength index (purple) struggling to rise significantly beyond 30, it is indeed possible that we see the altcoin drop a little lower in the next few days.

This pessimism is supported by ETH's medium-term support level (green), which has fallen to a lower level in the past week or so, after the altcoin breached $1,700.

This means that the coin could potentially sink lower in the next few days or weeks, before making an eventual recovery.

Such a view is also supported by various high-profile experts and analysts, with investors and podcast host KBM (@KeyboardMonkey3 on Twitter) recently suggesting that Bitcoin (BTC) will fall to around $21,000 and ETH will drop to $1,400.

Of course, just because KBM has made some money doesn't guarantee an infallible ability to predict future prices, so retail