Ethereum Price Expected to Drop 5% to $2,770 as Sell Signal Appears
Ethereum, the second-largest cryptocurrency by market capitalization, is likely to see a 5% fall from its current levels as a sell signal is already in play. This prediction comes amid a larger downtrend in the cryptocurrency market, with Bitcoin and other altcoins also experiencing a downward trend. The sell signal on Ethereum’s Relative Strength Index (RSI) adds to the bearish sentiment, making a revisit to the $2,770 support level highly plausible. Additionally, the Moving Average Convergence Divergence (MACD) indicator is dipping, signaling further downside potential. However, in an optimistic scenario, Ethereum’s price could surge and test the $0.6421 blockade, which is nearly 20% higher than the current levels.
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