Traders predict $3,800 Ethereum, but multiple data points suggest otherwise
Is it time for a correction after ETH rallied 34% in two weeks? On-chain metrics and derivatives data say yes. Investors tend not to complain about a price rally, except when the chart presents steep downside risks. For example, analyzing Ether's (ETH) current price chart could lead one to conclude that the ascending channel since March 15 is too aggressive.Ether price at FTX, in USD. Source: TradingViewThus, it is only natural for traders to fear that losing the $3,340 support could lead to a retest of the $3,100 level or a 12% correction down to $3,000. Of course, this largely depends on....
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ETH traders were excited by the recent break above $3,000, but a handful of data points suggest that Ethereum price will stay in a downtrend. There is an old saying in traditional markets which is actually more like a trading rule. It goes, “when the trend is negative, one can only be neutral or short,” meaning bet on the price decrease. The problem is that a relief bounce tricks traders into believing that the negative prevailing sentiment has shifted into a buyers’ market.For example, after analyzing Ether's (ETH) price chart, one might conclude that after a 41% crash, a bull run should....
46% of around 55 fintech and cryptocurrency specialists believe ethereum is undervalued following The Merge, according to a recent survey published by the comparison website Finder.com. With less than three months left in 2022, Finder’s panelists predict that ethereum will drop as low as $963 per unit this year, and they also expect ethereum to end the year at $1,377 per unit. 46% of Finder’s Experts Think Ethereum Is Undervalued, While 31% Think the Price Is Fair On October 11, 2022, Finder.com, the product and price comparison web portal, published a new prediction survey....