Given that the entire cryptocurrency market is bearish, Ethereum, which is the third largest cryptocurrency by market capitalization exceeded by XRP a few months ago, is undergoing the same bear attack with the price of a few points above the support of $ 100.
Ethereum follows Bitcoin
We see that the price of Ethereum follows bitcoin and since the price of bitcoin is in free fall, Ethereum is also in decline. Analysts expect the price of Ethereum to fall below $ 100 in a day or two by breaking the $ 100 support that is the only hope left for ETH. If the $ 100 support is broken, the price of Ethereum should fall to $ 50 or even below this year.
Ethereum is currently trading around $ 106 with a loss of around 7% in the last 24 hours. The main support is at $ 100 and the resistance at $ 110. If the price decreases the range of support, there is still a lot of hope that ETH will return above $ 100 and could stay at two digits. at least for the next few months on the downside. A big panic sale is also provided once the main support is broken, which can carry the price up to $ 50 or $ 60.
Unlike 2017, 2018 is not a big year for cryptocurrency fans because the market is surrounded by bears all around. Analysts predict that 2019 will also be a bear market for most cryptocurrencies. However, analysts predict that 2020 and 2021 will be the years of the massive growth of cryptocurrencies.
Prediction of Ethereum
The sale of panic does not seem to end despite the price falling from $ 200 to $ 100 in a few days. The main sale is provided by the Initial Coin Offerings that still hold a massive amount of ETH. The prediction of prices for ETH is around $ 60 to $ 70 by the end of 2018 year
A big panic sale is expected when the main $ 100 support will be broken to two digits.
This article is only the point of view of the author and the author is not a financial advisor. You should do your due diligence before taking any position in Bitcoin or any Cryptocurrency market.