ETH פּרייַז צו פאַלן צו $ 922 דורך 10 דעצעמבער, קאָינקאָדעקס פּרידיקס - מאַרקעץ און פּריסעס ביטקאָין נייַעס

The U.S. dollar price of ether, which presently hovers around $1,200, is expected to fall to $922.66 by Dec. 10, a Coincodex prediction chart has shown. Ethereum is nonetheless projected to close the following day trading above $1,000. According to the Coincodex analysis, there are presently 15 technical indicators out of a total of 28 that project a bearish outlook for the asset.

עטה’s Negative Trend

לויט אַ אַנאַליסיס by the digital asset exchange platform Coincodex, the U.S. dollar value of עטה is expected to drop to $922.66 by Dec. 10. The analysis suggests ether price, which stood at $1,230 on Dec. 7 (1:00 p.m. EST), must decline by almost 25% for this prediction to become a reality.

In a report which shares some factors that led to the negative price prediction, the Coincodex team also points to עטה’s negative trend which can be evidenced by its 21.5% decline between Nov. 5 and Dec. 5. Similarly, in a period of 90 days that ended on Dec. 5, the crypto asset’s price fell by nearly 23%.

Bearish Conditions in Ethereum Markets

Explaining the negative outlook for עטה, Coincodex said:

The medium-term trend for Ethereum has been bearish, with עטה dropping by -22.81% in the last 3 months [to Dec. 5]. The long-term picture for Ethereum has been negative, as עטה is currently displaying a -69.28% 1-year price change. On this day last year, עטה was trading at $ 4,220.95.

After reaching an all-time high of $4,862.24 on Nov. 9, 2021, עטה has declined by nearly 75% since then. The prevailing sentiment in ethereum markets remains largely bearish with 54%, or 15 technical indicators out of a total of 28, supporting this characterization — hence the price drop prediction.

However, despite the negative prediction, the Coincodex עטה prediction chart seems to suggest that עטה’s drop to below $1,000 will only last for 24 hours. Just a day after tapping the new 30-day low, the price of עטה is expected to rally to $1,019.56 by Dec. 11.

וואָס זענען דיין געדאנקען וועגן דעם געשיכטע? לאָזן אונדז וויסן וואָס איר טראַכטן אין די באַמערקונגען אָפּטיילונג אונטער.

Terence Zimwara

Terence Zimwara איז אַ זימבאַבווע אַוואָרד-ווינינג זשורנאַליסט, מחבר און שרייַבער. ער האט געשריבן ברייט וועגן די עקאָנאָמיש קאָפּדרייעניש פון עטלעכע אפריקאנער לענדער ווי געזונט ווי ווי דיגיטאַל קעראַנסיז קענען צושטעלן אפריקאנער אַ אַנטלויפן מאַרשרוט.

בילד קרעדיץ: שוטטערסטאָקק, פּיקסאַבייַ, Wiki Commons