After a small glimpse of hope, Ethereum prices sink again and break their strong support lower. Most cryptocurrencies in the market lost an average of around 3%. However, Ethereum was among the top loser as prices dipped more than 8% in the past 24 hours. What to do now with Ethereum? Should you sell Ethereum or is there any sign of recovery, and if so, when to sell Ethereum? Let’s analyze in this Ethereum price prediction article.
Why is Ethereum a good crypto project?
Wat ass Ethereum
Ethereum ass e Blockchain Netzwierk dat am Joer 2015 lancéiert gouf. Smart Kontrakter goufen am Ufank am Ethereum Netz ëmgesat. ETH gëtt benotzt fir dezentraliséiert Apps (dApps) ze bauen. Tatsächlech ass dës Blockchain e Pionéier an de Beräicher vun net-fungibelen Tokens (NFTs) an dezentraliséierter Finanzen (DeFi). Zënter Joeren ass ETH déi zweet wäertvollst Krypto-Währung, nëmmen no Bitcoin wat de Maartwäert ugeet. Den native Token vum Ethereum Netzwierk ass Ether.
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Is Ethereum a good crypto project?
Et gouf an de leschte Méint vill Debatt iwwer ob Ethereum eng Zukunft als Blockchain huet. Dëst war meeschtens wéinst dem Blockchain seng verschidde Mängel, déi héich Gaspräisser enthalen an heiansdo méi lues Transaktiounsraten am Verglach mat anere rezente Blockchainen.
Cardano, Solana, an Avalanche sinn nei Blockchainen déi Virdeeler iwwer Ethereum ubidden, besonnesch wat d'Effizienz an d'Transaktiounsgeschwindegkeet ugeet. Dëst ass meeschtens wéinst der fréierer Ofhängegkeet vum Blockchain op de Beweis-vun-Aarbecht Konsensprozess. De Blockchain geet de Moment op eng méi effizient Iwwergang Beweis-vun-Ofsaz Konsens Method.
Ethereum price Broke a major support
Many traders were waiting for Ether prices to rise as prices were hovering over the strong support price of $1,700. However, in the past 24 hours, Ethereum prices crashed by 8% lower and reached a current price of $1,606. This break is very alarming, as it potentially signals a further crash towards the next lower support price. As the entire crypto market turned bearish again, this might mean that the downtrend continues for all cryptocurrencies including Ethereum.
To confirm this bearish outlook, Bitcoin dropped also below $30,000 after managing to surpass it briefly. On the other hand, the crypto market’s price action tends to slow down on the weekend. That’s why we need to confirm further by Monday morning Asia time.
When to Sell Ethereum?
If you followed our previous articles, we stressed on the $1,750 price mark specifically for Ethereum. This represented a very strong support level. Breaking it lower means that prices are likely to continue going lower towards the next support area. If you managed to sell or short Ethereum, good job! However, it is important to note the next important price areas:
>>> CLICK HERE TO SHORT ETHEREUM <<<
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Source: https://cryptoticker.io/en/ethereum-price-is-risky-sell-ethereum-below-this-area/