HomeNewsIs Ethereum Price at a Risk ‘Fake’

Is Ethereum Price at a Risk ‘Fake’


  • After a recent 40 percent price increase, the value of Ethereum is in danger of being a hoax and may fall to 45 percent as a result of an illogical ascending triangular breakout.

A rise in Ethereum price

ETH, the native coin of Ethereum, saw a little dip after breaching a crucial technical barrier combination. After failing to break through two significant resistance levels—the 50-day exponentially weighted moving estimate and a declining regression line that serves as the budget range fell by 1.8 percent. Ethereum’s price, which has dropped by 1.8% after earlier rising by even more than 40% from $1000 to $1400, runs the danger of continuing to decline. The anticipation for the September merging event seems to be a contributing factor in the increase.

What is the impending risk?

Ethereum might go back to bearish trend, Credit: Daily Express
Ethereum might go back to bearish trend, Credit: Daily Express

Since there was no rise in transaction volume, Ethereum breached above $1284 and the breakout zone is now closer to some upward trendline. This implies that a sluggish upward motion is referred to be a fake. The price of Ethereum is vulnerable to manipulation and faces a potential loss of momentum close to the $1284 support. If it rebounds off $1284, the ETH/USD combination is expected to keep moving in a positive direction. The rising triangle pattern, which has a negative bias, might restart with a breakdown below this mark. The rule of technical analysis states that ETH may potentially be subject to a drop to $750. To begin developing new currencies and trading them on a distributed marketplace, Ethereum started earlier this year with the introduction of the Counterparty technology, a layer 2 solution.

Ujan Chakraborty
Ujan Chakraborty
Nothing but Blue Skies.


Will October be as good as August for Bitgert?

180% growth in August Over the past few months, the price performance of Bitgert (BRISE) has been astounding. Although the price of BRISE has remained constant...

Is the Big Eyes Coin a SHIB and DOGE Killer?

Positive anticipation  BIG is a new innovative cryptocurrency that has generated a significant amount of anticipation and interest in the cryptocurrency world. Big Eyes Coin may...

Does Floki Inu have a better future than DOGE and SHIB?

Despite the enormous public success of both Dogecoin and Shiba Inu, Floki (FLOKI) is a quickly expanding meme coin with more potential because of its...

Bitgert might face a 5X growth in its value

Among the most profitable and intriguing crypto assets on the market right now is Bitgert (BRISE). As of this writing, no coin in the top...

Most Popular