To go down and expected to hit 1104
by HasriTrader
****
While some tokens are down 90% from their 2021 peak levels, ETH/USD is currently trading 77 percent below its $4,951 record high. These sell-offs have been fueled by worries about the Federal Reserve's hawkish approach to controlling inflation, which has hurt some sectors of traditional stock markets concurrently. The U.S. central bank intends to increase benchmark rates in 2023, which could reduce investor liquidity and prevent them from purchasing riskier assets like BTC and ETH. Additionally, the so-called decentralised finance, or DeFi, sector has caused forced selling and liquidity issues that have added downside pressure to the cryptocurrency market, limiting Ether's chances of continuing its recovery rally going forward. The price of ETH has not yet bottomed out, according to analyst "Capo of Crypto," and it may drop even lower, toward the $700-$800 range.
Ethereum 2.0 might not be a success and instead turn out to be the exact opposite of what everyone anticipates, according to recent reports from crypto experts. When the market is generating a new launch, crypto enthusiasts typically appear more enthused. After the SEC in the US approved the first Bitcoin Futures ETF in 2021, the price of the digital currency rocketed. Unfortunately, Ethereum's upgrade hasn't generated much of a buzz in the market, and investors are selling off large amounts of their holdings. It is clear that the market's relentless blows, one after another, are frightening investors.
Source: bit.ly/3uz7Vtj
by HasriTrader
****
While some tokens are down 90% from their 2021 peak levels, ETH/USD is currently trading 77 percent below its $4,951 record high. These sell-offs have been fueled by worries about the Federal Reserve's hawkish approach to controlling inflation, which has hurt some sectors of traditional stock markets concurrently. The U.S. central bank intends to increase benchmark rates in 2023, which could reduce investor liquidity and prevent them from purchasing riskier assets like BTC and ETH. Additionally, the so-called decentralised finance, or DeFi, sector has caused forced selling and liquidity issues that have added downside pressure to the cryptocurrency market, limiting Ether's chances of continuing its recovery rally going forward. The price of ETH has not yet bottomed out, according to analyst "Capo of Crypto," and it may drop even lower, toward the $700-$800 range.
Ethereum 2.0 might not be a success and instead turn out to be the exact opposite of what everyone anticipates, according to recent reports from crypto experts. When the market is generating a new launch, crypto enthusiasts typically appear more enthused. After the SEC in the US approved the first Bitcoin Futures ETF in 2021, the price of the digital currency rocketed. Unfortunately, Ethereum's upgrade hasn't generated much of a buzz in the market, and investors are selling off large amounts of their holdings. It is clear that the market's relentless blows, one after another, are frightening investors.
Source: bit.ly/3uz7Vtj
Trade closed: target reached