Ethereum could trigger panic selling as ETH positions for a drop to $1,825
The price of Ethereum may drop to $1,825 as ETH positions for a drop to $1,825. Ethereum price has dropped from $14 to $9 since the beginning of trading on Nov. 15. Ethereum is the second largest cryptocurrency in terms of market capitalisation and the second most valuable in the world, with a market cap of $16.7 billion.
There is a risk of a crash in the price of Ethereum. However, a crash does not necessarily mean that it will make a loss. A crash could trigger panic selling and may also result in a drop in the price of ETH.
As a result of the recent price action in Ethereum, the Ethereum bulls have been fighting off a large drop to the $1,825 level, and there is a chance of a drop to $1,825.
The price of ether just hit $1,900, and has been steadily climbing in recent weeks. This marks the first time that the digital currency has ever been this high in price, and if investors think this is the beginning of a significant drop, they may be in for a nasty shock.
What is the reason behind panic selling as ETH positions for a drop to $1,825?
A lot of investors and traders were watching for signals to enter into the market. If the price of ETH drops to or below $1,825. this will be the signal for them to enter the market and buy ETH at a cheaper price. After the price of ETH hit $1,750, it began to drop and the price continued to fall until it hit $1,825.
In the past two months, the ETH price has dropped from $1,850 to roughly $1,725. This is due to the lack of any large news stories to drive the price to new all-time highs. Most of the price action since $1,850 has been in the form of panic selling as prices have dropped to their downside support level.
Ethereum has now fallen from the $20 threshold to below $1,800. This came after a recent run up in price, where ETH was trading above $2,200, creating a rally.
Summary and CTA
“A sharp decline in ETH could trigger a panic sell and send the price to $1,825 or lower.” That’s how David Drake, CEO and founder of Dragonchain, saw the crypto market yesterday as it plummeted from a high of nearly $1,500 to around $1,000. The company he cofounded is focused on the blockchain-based, decentralized Internet of Things but it’s also building a public version of Ethereum, an open-source blockchain.
With a potential for ETH to fall to $1,825 (although that should be viewed as a temporary reversal after the run up that has taken place so far). It would be a mistake to expect the market to have crashed.
