ETH Price Prediction: As Ethereum Falls To Lows Not Seen Since January 2021, Here’s The Likely Next

Ethereum ETH/USD plunged more than 13% on Saturday, in sympathy with Bitcoin BTC/USD, which fell more than 10%.

Price action in the cryptocurrency market has been predictive of price action in general markets recently, and traders and equity investors will likely be watching Bitcoin and Ethereum this weekend, so that they collapse.

The stark reality is that the crypto has entered a winter cycle, with Bitcoin and Ethereum now trading down 73% and 80%, respectively, from their all-time highs on November 10 and now that the crypto and general markets have started trading in tandem, this does not look positive for the stock market, at least in the short term.

During bearish cycles, there are always bullish bounces, however, and Ethereum looks set to bounce back over the next few days.

The Ethereum Chart: After trading sideways in consolidation for four 24-hour trading periods between June 14 and Friday, Ethereum broke lower on Saturday. The price action confirmed that the crypto is still trading in a downtrend, with the most recent lower high printed Thursday at $1,421.80 and the most recent confirmed lower low formed at the 1,012 mark. $.72 the day before..

Thomas Estimbre
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