Ethereum Price Prediction – ETH Drops 23%, Is It All Over For Crypto?
The crypto markets have been hit by yet another black swan event – the collapse of one of the largest crypto exchanges in the world, FTX.
Ethereum, along with the broader crypto markets, has lost a significant percentage of its value in recent hours as recent events have occurred.
As rumors began bubbling online about FTX’s potential liquidity problems, market participants have become increasingly spooked, reflected in the widespread selling. With Ethereum caught in the crosshairs, many participants are wondering if it is over for the crypto space. Read on to find out more.
Ethereum price prediction
Ethereum has seen a significant price drop over the past 24 hours as scared investors have dumped their crypto holdings following the collapse of the FTX Exchange.
At the time of writing, ETH is trading at $1,162, down 23% on the day, with over $32 billion in trading volume.
Ethereum has seen a significant uptick in trading volume recently, perhaps due to investors panic selling their crypto assets in fear of steeper declines.
ETH is now trading below its 36, 50, and 200-day moving averages, indicating strong selling momentum.
The coin seems to be rushing towards the major support at $1,000, which is a round, psychological level and one that has held well on several occasions in the past.
With the potential Binance acquisition of FTX not yet settled, the general market consensus seems to be that lower prices are coming.
That said, however, the Relative Strength Index (blue) provides a positive light at the end of the tunnel. It currently sits at 32, which is bordering on oversold territory. Although it is difficult to say whether the sale has been completed, there are currently indications that the worst may be over.
It is important to remember that crypto prices have seen such falls many times before. In 2018, Ethereum rose to $1,400 and fell back to $80 in the months that followed. The price of ETH subsequently recovered and reached new records a few years later, indicating the resilience of the solid projects.
While prices may fall in the short term, many experts believe that crypto prices will be much higher in the coming years.
Cryptocoins bring faster profits
Ethereum is the second largest cryptocurrency in the world in terms of market capitalization, behind only Bitcoin. This means that it requires a significant amount of capital to achieve higher prices and profits for current investors.
Therefore, many have started to look at alternatives, with pre-sales being a sector that has done particularly well in the past year, despite the bear market.
Here are three new coins that are in presale right now that could make some nice returns when they receive their first listings.
Dash 2 Trading
Dash 2 Trading (D2T) is a crypto analysis and intelligence platform for traders and investors. Think of it as a Bloomberg terminal for crypto enthusiasts.
In just a few weeks, D2T has raised more than 5.7 million dollarsis catching the attention of crypto investors worldwide.
With LBank is the first confirmed IPOD2T has all the basics to see significant gains in the future.
Visit Dash 2 Shop Now
IMPT
IMPT is a carbon credit marketplace where users can earn and trade NFT-based carbon offsets by trading with a wide range of eco-friendly retailers.
IMPT’s pre-sale now has raised over $12.5 million making it one of the most popular sales in crypto right now.
IMPT tokens are currently selling for $0.023, but this will increase and continue to increase in the next stages of the presale.
Visit IMPT now
Calvary
Calvaria (RIA) is a new money-making game that allows players to earn and battle with NFT-based trading cards. What sets it apart from other blockchain-based games is that users can play it without having to hold any cryptocurrency, which could serve to make it more accessible to a wider variety of players.
The presale has raised more than $1.6 million and is in the process of selling out its fourth phase, with 1 USDT currently buying 40 RIA tokens.
Visit Calvaria now
