Ethereum Price Looks Set To Crash To $1,000-$1,500, But Can It Fill The CME Gaps Upwards To $3,933

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Ethereum Price Looks Set To Crash To $1,000-$1,500, But Can It Fill The CME Gaps Upwards To $3,933 - NewsBTC

Quick Summary:

This renewed selling pressure has seen the Ethereum price lose a strong support level at $1,800, causing it to fall by about 14.5% from its price 24 hours ago at the time of writing. The trading trend shows that the Ethereum price is about to break below $1,500, with one analyst even suggesting a potential break to $1,000.

These include a gap between $2,550 and $2,625, another between $2,890 and $3,050, and a partially filled third gap between $3,917 and $3,933. Related Reading: Ethereum Price Hits 300-Week MA For The Second Time Ever, Here’s What Happened In 2022 The CME gap theory is rooted in the observation that asset prices often return to fill these voids, even if the move takes weeks or months.

He described Ethereum’s $215 billion market cap as "ridiculous” for what he calls a "negative growth/profitability asset.” Related Reading: Analyst Reveals Bullishness On Ethereum Price At This Point, Can It Hit $4,000 Again?